Guideline Value for Kulothungan Street / VOC Nagar

Kulothungan Street / VOC Nagar guideline value

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

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

The guideline value for Kulothungan Street / VOC Nagar has seen significant changes over the years. In 2002, the value was Rs 184 per sq.ft, which increased to Rs 208 per sq.ft in 2003, marking a 13% rise. The value continued to grow, reaching Rs 360 per sq.ft in 2007, a 73% increase from the previous revision. By 2017, the guideline value surged to Rs 1,675 per sq.ft, reflecting a remarkable 365% increase from 2007. The next revision in 2023 saw the value rise to Rs 2,500 per sq.ft, a 49% increase from 2017. The most recent revision in 2024 set the value at Rs 2,750 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there is no figure available for Kulothungan Street / VOC Nagar in the 2012 revision. Overall, from 2002 to 2024, the guideline value has increased by 1,395%.

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, with a median value of Rs 2,090 per sq.ft. Kulothungan Street / VOC Nagar's 2024 figure is above this median.

• Kulasekaran Street / Ganapathy Nagar: Rs 1,760 per sq.ft (2024)
• Kulandaigal Street / Mungil Lake: Rs 1,980 per sq.ft (2024)
• Kumaran Street / VOC Nagar: Rs 2,750 per sq.ft (2024)
• Kumaraswamy Street / Lord Srinivasa Colony: Rs 1,980 per sq.ft (2024)
• Kuppammal Street / Veeraswamy Nagar: Rs 1,980 per sq.ft (2024)
• Kuppaswamy Street / Pasumpon Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Kulothungan 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 fees together 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.

You can also use our stamp duty and registration fee calculator for more accurate estimates.

Which Sub Registrar Office covers Kulothungan Street / VOC Nagar?

The Sub Registrar Office that covers Kulothungan Street / VOC Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 Pammal

The guideline value is a crucial factor during the registration of property transactions in Pammal. It serves as the basis for calculating stamp duty and registration fees, which are mandatory for all property transactions. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements.

When a property is bought or sold, the guideline value helps determine the minimum value at which the property can be registered. This ensures that the government receives the appropriate taxes based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Kulothungan Street / VOC Nagar?

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

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased significantly, from Rs 184 per sq.ft to Rs 2,750 per sq.ft in 2024, marking an overall increase of 1,395%.

What is the stamp duty rate for properties in Pammal?

The stamp duty rate for properties in Pammal is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Pammal Sub Registrar Office?

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

How do I calculate the registration fee for a property?

The registration fee is calculated at 2% of the guideline value. For example, if the guideline value is Rs 27,50,000, the registration fee would be Rs 55,000.