Guideline Value for V O C CROSS STREET

V O C Cross Street guideline value

The current guideline value of V O C Cross Street is Rs 385 per sq.ft, effective from 1 July 2024. This street is located in Thirukkachur - 1 village, under the Chengleput Joint II SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of V O C Cross Street has changed

The guideline value for V O C Cross Street has undergone several revisions over the years. The earliest available figure is from 2012, where it was set at Rs 350 per sq.ft. In 2017, the value decreased to Rs 234 per sq.ft, marking a reduction of 33%. However, from 2017 to 2023, the value increased significantly by 50%, reaching Rs 350 per sq.ft. The most recent revision in 2024 has raised the guideline value to Rs 385 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, the guideline value has increased by 10% from the 2012 figure to the current 2024 figure.

Guideline values in Thirukkachur - 1

In Thirukkachur - 1 village, there are 86 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 385 to Rs 3,300 per sq.ft, with a median value of Rs 660 per sq.ft. The guideline value for V O C Cross Street is below this median.

• V O C Street: Rs 385 per sq.ft (2024)
• Vivekanda Nagar Phase -3: Rs 660 per sq.ft (2024)
• West Mada Veedhi: Rs 385 per sq.ft (2024)
• Vip Nagar Phase -V: Rs 660 per sq.ft (2024)
• Vip Nagar Phase - IV: Rs 660 per sq.ft (2024)
• Vip Nagar: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in V O C Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 385 per sq.ft, the total guideline value would be Rs 3,85,000. The stamp duty at 7% would amount to Rs 26,950, while the registration fee at 2% would be Rs 7,700. Together, the total cost for stamp duty and registration fee would be Rs 34,650. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers V O C Cross Street?

The Sub Registrar Office that covers V O C Cross Street is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Thirukkachur - 1

The guideline value plays a crucial role in property transactions in Thirukkachur - 1. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that must be paid during the registration process. This value is set by the Registration Department and is periodically revised to reflect changes in the real estate market.

It is essential for buyers and sellers to be aware of the current guideline value, as it can significantly impact the overall cost of the transaction. Ensuring that the property is registered at the correct guideline value helps in maintaining transparency and legality in property dealings.

Frequently asked questions

What is the current guideline value of V O C Cross Street?

The current guideline value of V O C Cross Street is Rs 385 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent revision in 2024 increasing it to Rs 385 per sq.ft from Rs 350 per sq.ft in 2023. Overall, from 2012 to 2024, the value has increased by 10%.

What is the land classification for V O C Cross Street?

The land classification for V O C Cross Street is Residential Class I Type - III, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for V O C Cross Street?

The Sub Registrar Office for V O C Cross Street is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more information by visiting the relevant link.

How is the stamp duty calculated for property in V O C Cross Street?

Stamp duty for property in V O C Cross Street is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 3,85,000, the stamp duty would be Rs 26,950 at 7%.