Guideline Value for Church Street

Church Street guideline value

The current guideline value of Church Street in Nanganallur village, under the Alandur SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class I Type - I.

How the guideline value of Church Street has changed

The guideline value for Church Street has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 273 per sq.ft. This increased to Rs 310 per sq.ft in 2003, marking a 14% rise. The value saw a significant jump to Rs 1,200 per sq.ft in 2007, reflecting a 287% increase. The 2012 revision brought the value back down to Rs 4,000 per sq.ft, which was a decrease of 33% from the previous figure. In 2017, the value rose again to Rs 2,680 per sq.ft, showing a 49% increase. The 2023 revision set the value at Rs 4,000 per sq.ft, and the latest revision in 2024 has raised it to Rs 4,400 per sq.ft, marking a 10% increase.

There are no figures available for the years prior to 2002 or any revisions without a figure for this street. Overall, from 2002 to 2024, the guideline value has increased by 1512%.

Guideline values in Nanganallur

Nanganallur has a total of 155 streets under the Alandur SRO, with guideline values for 2024 ranging from Rs 2,800 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, placing Church Street's 2024 figure above that median.

• Collage Road Main: Rs 5,500 per sq.ft (2024)
• Dr Ambethkar Street: Rs 4,400 per sq.ft (2024)
• Bharathi Street: Rs 2,800 per sq.ft (2024)
• Elangovadigal Street: Rs 3,300 per sq.ft (2024)
• Balu Samy Naidu Street (Balu Samy Street): Rs 4,400 per sq.ft (2024)
• Bala Vinayagar Murthy Colony: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Church Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Church Street?

The Sub Registrar Office that covers Church Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Nanganallur

The guideline value is a crucial factor in the registration process when buying or selling property in Nanganallur. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these charges are based on a standardized value set by the government.

When a property is sold, the higher value between the guideline value and the sale price is considered for the calculation of duties. This ensures transparency and uniformity in property transactions within the region.

Frequently asked questions

What is the current guideline value for Church Street?

The current guideline value for Church Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, starting from Rs 273 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 1512%.

What is the land classification for Church Street?

Church Street is classified as Residential Class I Type - I, which is a designation for residential properties in the area.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties in Nanganallur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for the registration fee.