Guideline Value for Shivaji Street / VOC Nagar

Shivaji Street / VOC Nagar guideline value

The current guideline value of Shivaji 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. The land classification for this area is Commercial Class I Type - II.

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

Over the years, the guideline value of Shivaji Street / VOC Nagar has seen significant changes. The 2002 revision recorded a guideline value of Rs 184 per sq.ft. This increased to Rs 208 per sq.ft in 2003, marking a change of +13%. By 2007, the value had risen to Rs 360 per sq.ft, reflecting a +73% increase from the previous revision. The 2023 revision set the value at Rs 2,500 per sq.ft, which was a substantial +594% increase from 2007. The current 2024 revision has further increased the guideline value to Rs 2,750 per sq.ft, which is a +10% change from 2023.

There are no figures available for the revisions in 2012 and 2017 for this street. Overall, from 2002 to 2024, the guideline value has increased by +1395%.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with 2024 guideline values 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, positioning Shivaji Street / VOC Nagar above this median.

• Shivasanakaran Cross Street / LIC Colony: Rs 2,530 per sq.ft (2024)
• Shivasanakaran Street / Thiru Nagar: Rs 1,980 per sq.ft (2024)
• Shivasanakaran Street / Thiruvalluvar Nagar: Rs 2,475 per sq.ft (2024)
• Shongvel Street / Thandai Periyar Nagar: Rs 1,980 per sq.ft (2024)
• Shastri Street / Mungil Lake: Rs 1,980 per sq.ft (2024)
• Sigamani Street / Ganapathy Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Shivaji 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 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, making the total cost for these fees 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 use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Shivaji Street / VOC Nagar?

The Sub Registrar Office that covers Shivaji Street / VOC Nagar is located at Pammal Sub Registrar Office, 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 property registration in Pammal. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The fees are calculated based on the guideline value or the sale price, whichever is higher.

When buying or selling property, it is essential to be aware of the current guideline value, as it directly impacts the overall cost of the transaction. Buyers should ensure they are informed about the guideline value to avoid any surprises during the registration process.

Frequently asked questions

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

The current guideline value of Shivaji 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?

The guideline value has changed significantly from Rs 184 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of +1395%.

What is the land classification for Shivaji Street / VOC Nagar?

The land classification for Shivaji Street / VOC Nagar is Commercial Class I Type - II.

Where can I find the Sub Registrar Office for Shivaji Street / VOC Nagar?

The Sub Registrar Office for Shivaji Street / VOC Nagar is located at Pammal Sub Registrar Office, Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How are stamp duty and registration fees calculated in Pammal?

Stamp duty and registration fees in Pammal are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur total fees of Rs 2,47,500.