Guideline Value for Kasturibai Street / VOC Nagar

Kasturibai Street / VOC Nagar guideline value

The current guideline value of Kasturibai Street / VOC Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Pammal village under the Pammal SRO, classified as Commercial Class I Type - II.

How the guideline value of Kasturibai Street / VOC Nagar has changed

The guideline value for Kasturibai Street / VOC Nagar has undergone several revisions since 2002. The figures are as follows: in 2002, the value was Rs 184 per sq.ft, which increased to Rs 208 per sq.ft in 2003. Following this, the value saw a significant rise to Rs 360 per sq.ft in 2007, and then to Rs 1,675 per sq.ft in 2017. The next revision in 2023 set the value at Rs 2,500 per sq.ft, leading to the current value of Rs 2,750 per sq.ft from the 2024 revision. Notably, there is no figure for this street in the 2012 revision.

In terms of percentage changes, the value increased by 13% from 2002 to 2003, 73% from 2003 to 2007, 365% from 2007 to 2017, and 49% from 2017 to 2023. The most recent change from 2023 to 2024 is 10%. Overall, from 2002 to 2024, the guideline value has increased by 1395%.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, making the 2024 figure for Kasturibai Street / VOC Nagar above this median.

• Kasturibai Street / Mungil Lake: Rs 1,980 per sq.ft (2024)
• Kasthuribai Street, Dr. Ambedhkar Nagar: Rs 1,980 per sq.ft (2024)
• Kattabomman Street, Dr.Ambedhar Nagar: Rs 1,980 per sq.ft (2024)
• Kattabooman Street (Mungil Lake): Rs 1,980 per sq.ft (2024)
• Kattabooman Street / Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Kattabooman Street (V.O.C. Nagar): Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Kasturibai Street / VOC Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost for these fees to 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, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kasturibai Street / VOC Nagar?

The Sub Registrar Office that covers Kasturibai Street / VOC Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Pammal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the buyer and seller must ensure that the transaction complies with the guideline value set by the government. This helps in maintaining transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value for Kasturibai Street / VOC Nagar?

The current guideline value for Kasturibai Street / VOC Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant increases, from Rs 184 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 1395% over this period.

What is the median guideline value for streets in Pammal?

The median guideline value for streets in Pammal is Rs 2,090 per sq.ft, with Kasturibai Street / VOC Nagar's 2024 figure being above this median.

How is the stamp duty calculated for property in Kasturibai Street / VOC Nagar?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500.

Where is the Pammal Sub Registrar Office located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.