Guideline Value for Church Street

Church Street guideline value

The current guideline value of Church Street in Vengambakkam village is Rs 440 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 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 undergone several revisions over the years. In the 2012 revision, the value was set at Rs 400 per sq.ft. This was followed by a decrease to Rs 268 per sq.ft in the 2017 revision. However, the value significantly increased to Rs 400 per sq.ft in the 2023 revision and further rose to Rs 440 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Between the 2017 and 2023 revisions, there was a notable increase of 49%. Overall, from the 2012 to 2024 revisions, the guideline value has increased by 10%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Vengambakkam

In Vengambakkam, there are 88 streets under the Tambaram Joint 1 SRO that have a 2024 guideline value ranging from Rs 440 to Rs 5,000 per sq.ft. The median value is Rs 770 per sq.ft, placing Church Street's 2024 figure below this median. Here are some other streets in Vengambakkam:

• Dollars Colony Phase - I: Rs 2,200 per sq.ft (2024)
• Dr.Ambedkar Street: Rs 440 per sq.ft (2024)
• Easwaran Koil Street: Rs 550 per sq.ft (2024)
• Bbcl Auracity: Rs 1,650 per sq.ft (2024)
• First Cross Road: Rs 550 per sq.ft (2024)
• First Cross Street: Rs 550 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 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total to Rs 39,600. 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 Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions in Vengambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the registration process. Buyers and sellers must consider the guideline value to ensure compliance with local regulations.

When purchasing property, the guideline value helps to establish the minimum value on which stamp duty is calculated. This ensures that the government receives appropriate revenue from property transactions, reflecting the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Church Street?

The current guideline value of Church Street is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then back to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

What is the land classification for Church Street?

Church Street is classified as Residential Class I Type - III under the Tambaram Joint 1 SRO.

Where can I find the Sub Registrar Office for Church Street?

The Sub Registrar Office for Church Street is located at No.26, Mes Road, East Tambaram, Chennai-600059, within the Chengalpattu registration zone.

How is the stamp duty calculated for properties in Vengambakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For Church Street, the total stamp duty can be calculated using the guideline value of Rs 440 per sq.ft.