Guideline Value for Church Street

Church Street guideline value

The current guideline value of Church Street in Vepery village, under the Periamet SRO, is Rs 11,500 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - II land classification.

How the guideline value of Church Street has changed

The guideline value for Church Street has seen significant changes over the years. In the 2007 revision, the value was Rs 1,800 per sq.ft. This increased to Rs 10,500 per sq.ft in the 2012 revision, marking a substantial rise of 483%. However, in the 2017 revision, the value decreased to Rs 7,035 per sq.ft, a decline of 33%. The 2023 revision set the value at Rs 10,500 per sq.ft, which then increased to Rs 11,500 per sq.ft in the 2024 revision, reflecting a 10% increase.

From 2017 to 2023, the guideline value rose by 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 539%. It is important to note that there are no figures available for Church Street in the 2002 and 2003 revisions.

Guideline values in Vepery

In Vepery, there are 290 streets under the Periamet SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 22,000 per sq.ft. The median value for these streets is Rs 4,800 per sq.ft, placing Church Street's 2024 figure above this median.

• Choolai High Road: Rs 9,900 per sq.ft (2024)
• Choolai Bazaar Road: Rs 8,800 per sq.ft (2024)
• Choolai Bazaar Lane: Rs 7,700 per sq.ft (2024)
• Coovum river Road & Riverside Road: Rs 4,800 per sq.ft (2024)
• Corporation Lane: Rs 4,400 per sq.ft (2024)
• Chinnthambi Pillai 2nd street: Rs 6,000 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 11,500 per sq.ft, the total guideline value would be Rs 1,15,00,000. The stamp duty at 7% would amount to Rs 8,05,000, and the registration fee at 2% would be Rs 2,30,000, bringing the total to Rs 10,35,000. 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 details.

Which Sub Registrar Office covers Church Street?

The Sub Registrar Office that covers Church Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Vepery. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of a property.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers must be aware of the current guideline value to accurately calculate the costs involved in the transaction.

Frequently asked questions

What is the current guideline value of Church Street?

The current guideline value of Church Street is Rs 11,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,800 per sq.ft in 2007 to Rs 11,500 per sq.ft in 2024, reflecting an overall increase of 539%.

What are the registration fees for property in Church Street?

The registration fees for property in Church Street include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Which Sub Registrar Office covers Church Street?

The Sub Registrar Office that covers Church Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

What is the median guideline value of streets in Vepery?

The median guideline value of streets in Vepery is Rs 4,800 per sq.ft, with Church Street's 2024 figure being above this median.