Guideline Value for Thiruvalluvar Street / VOC Nagar

Thiruvalluvar Street / VOC Nagar guideline value

The current guideline value of Thiruvalluvar 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 Thiruvalluvar Street / VOC Nagar has changed

The guideline value of Thiruvalluvar Street / VOC Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 185 per sq.ft, which increased to Rs 210 per sq.ft in 2003, marking a 14% rise. By 2007, the value had risen to Rs 360 per sq.ft, representing a 71% increase from the previous revision. There are no figures available for the years 2012, 2017, and 2023.

The most recent revision in 2024 has set the guideline value at Rs 2,750 per sq.ft, which is a substantial increase of 664% from the 2007 figure. Overall, from 2002 to 2024, the guideline value has increased by 1386%.

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, placing Thiruvalluvar Street / VOC Nagar above this median.

• Thiruvalluvar Street, Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• Thiruvalluvar Street / Near Pammal MainRoad: Rs 880 per sq.ft (2024)
• Thiruvalluvar Street, Annai Sathya Nagar: Rs 1,980 per sq.ft (2024)
• Thiru.Ve.Ka. Street / Thiruvalluvar Nagar: Rs 2,475 per sq.ft (2024)
• Thiruvalluvar Nagar, 4th Cross Street: Rs 2,475 per sq.ft (2024)
• Thiruvalluvar Nagar, 3rd Cross Street: Rs 2,475 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar 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, while the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. Please note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Thiruvalluvar Street / VOC Nagar?

The Thiruvalluvar Street / VOC Nagar area is covered by 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 in the registration process of property transactions in Pammal. It serves as a benchmark for determining the stamp duty and registration fees payable when buying or selling property. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the applicable duties. If the sale price exceeds the guideline value, the higher amount will be used to determine the stamp duty and registration fees, ensuring that all transactions are fairly assessed.

Frequently asked questions

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

The current guideline value of Thiruvalluvar 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 increased significantly from Rs 185 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, which is an overall increase of 1386%.

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

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

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles registrations for Thiruvalluvar Street / VOC Nagar?

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