Guideline Value for Church Street

Church Street guideline value

The current guideline value of Church Street in Naravarikuppam village, under the Redhills SRO, is Rs 1,870 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Church Street has changed

The guideline value for Church Street has undergone several revisions over the years. In 2002, the register recorded a value of Rs 3,849 per sq.ft, which decreased to Rs 392 per sq.ft in 2003. The value increased to Rs 500 per sq.ft in 2007, then saw a significant rise to Rs 1,700 per sq.ft in 2012. However, it dropped to Rs 1,139 per sq.ft in 2017. The value then increased to Rs 1,700 per sq.ft in 2023, before reaching the current figure of Rs 1,870 per sq.ft in 2024.

Between the revisions, the following changes were noted: from 2002 to 2003, there was a decrease of 90%; from 2003 to 2007, an increase of 28%; from 2007 to 2012, a rise of 240%; from 2012 to 2017, a decrease of 33%; and from 2017 to 2023, an increase of 49%. The most recent change from 2023 to 2024 reflects an increase of 10%. Overall, from 2002 to 2024, the guideline value has decreased by 51%.

Guideline values in Naravarikuppam

In Naravarikuppam, there are 112 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft, with a median value of Rs 1,650 per sq.ft. Church Street's 2024 guideline value is above this median.

• Chozhan Street: Rs 1,320 per sq.ft (2024)
• Chothupakkam Salai: Rs 2,200 per sq.ft (2024)
• Chothupakkam Road: Rs 3,300 per sq.ft (2024)
• C.K. Manikkam Street: Rs 1,650 per sq.ft (2024)
• C.K. Manikkanar Street Extn.: Rs 1,320 per sq.ft (2024)
• Cheran Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Church Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 18,70,000. The stamp duty at 7% would be Rs 1,30,900, and the registration fee at 2% would be Rs 37,400, totaling Rs 1,68,300. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Church Street?

The Sub Registrar Office covering Church Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. To find your SRO, visit find your SRO.

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

The guideline value is a critical factor in property transactions in Naravarikuppam. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must refer to the guideline value to ensure compliance with the local regulations during the registration process.

When a property is sold, the guideline value serves as a benchmark for the transaction. If the sale price of the property is higher than the guideline value, the stamp duty is calculated based on the sale price. Conversely, if the sale price is lower, the duty is charged on the guideline value.

Frequently asked questions

What is the current guideline value of Church Street?

The current guideline value of Church Street is Rs 1,870 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 3,849 per sq.ft in 2002 to Rs 1,870 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification of Church Street?

Church Street falls under the Residential Class I Type - I land classification.

Where can I find the Redhills Sub Registrar Office?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Church Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For a property valued at the guideline rate, the duty is 7% of the guideline value.