Guideline Value for Church Street

Church Street guideline value

The current guideline value of Church Street in Madipakkam-1 village is Rs 2,750 per sq.ft, effective from 1 July 2024. This street falls under the Velacheri SRO and is classified as Residential Class I Type - III.

How the guideline value of Church Street has changed

The guideline value for Church Street has seen changes over the years, with the most recent revision in 2024 setting it at Rs 2,750 per sq.ft. Prior to this, the 2023 revision had the guideline value at Rs 2,500 per sq.ft, marking a 10% increase from the previous year.

For earlier years, the register has no figures for Church Street in 2017, 2012, 2007, 2003, and 2002. This means that the only available figures are from the 2023 and 2024 revisions.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with the 2024 guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,750 per sq.ft, which is equal to the guideline value of Church Street.

• Church Street/Kanmalar Pon Nagar: Rs 2,750 per sq.ft (2024)
• C.L.M.Bank Staff Colony, Ramalinga Nagar, Sivasubramaniam Street: Rs 2,750 per sq.ft (2024)
• Chinnammal Nagar Layout: Rs 2,750 per sq.ft (2024)
• Daniel Street: Rs 2,200 per sq.ft (2024)
• Daniel Street/Kanmalar Pon Nagar: Rs 2,750 per sq.ft (2024)
• David George 1st Lane: Rs 2,750 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 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, leading to a total of Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Church Street?

The Sub Registrar Office covering Church Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is an important factor in property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers should be aware that this value affects the stamp duty and registration fees applicable during the transaction.

When registering a property, the guideline value is used to calculate the applicable fees. It is essential for both parties to understand that the stamp duty is levied on the higher of the guideline value or the sale price, ensuring that the registration reflects the true value of the transaction.

Frequently asked questions

What is the current guideline value of Church Street?

The current guideline value of Church Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Church Street increased from Rs 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024, which is a 10% increase. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002.

What is the classification of Church Street?

Church Street is classified as Residential Class I Type - III under the guideline value register.

Where is the Sub Registrar Office for Church Street located?

The Velacheri Sub Registrar Office covers Church Street and is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for Church Street properties?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For instance, for a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 at a rate of 7%.