Guideline Value for V O C Street / Gandhi Nagar

V O C Street / Gandhi Nagar guideline value

The current guideline value of V O C Street / Gandhi Nagar is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Thalakanancherry village under the Alandur SRO, classified as Residential Class II Type - II.

How the guideline value of V O C Street / Gandhi Nagar has changed

Over the years, the guideline value for V O C Street / Gandhi Nagar has seen significant changes. The 2007 revision set the value at Rs 700 per sq.ft, which increased to Rs 2,500 per sq.ft in the 2012 revision. However, there was a decrease to Rs 1,675 per sq.ft in 2017. The 2023 revision brought the value up to Rs 2,500 per sq.ft, and the most recent 2024 revision increased it further to Rs 2,800 per sq.ft.

Notably, the changes between revisions are as follows: from 2007 to 2012, there was a substantial increase of 257%; however, from 2012 to 2017, the value decreased by 33%. The 2017 to 2023 period saw an increase of 49%, and the latest revision from 2023 to 2024 reflects a 12% rise. Overall, from 2007 to 2024, the guideline value has increased by 300%. The register has no figures for the years 2002 and 2003.

Guideline values in Thalakanancherry

In Thalakanancherry, there are 318 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft, with a median value of Rs 3,900 per sq.ft. V O C Street / Gandhi Nagar's 2024 figure is below this median.

• Voltas Colony 1st Street: Rs 4,400 per sq.ft (2024)
• Voltas Colony 2nd Street: Rs 4,400 per sq.ft (2024)
• Voltas Colony 3rd Street: Rs 4,400 per sq.ft (2024)
• Voltas Colony 4th Street: Rs 4,400 per sq.ft (2024)
• Voltas Colony 5th Street: Rs 4,400 per sq.ft (2024)
• Voltas Colony 6th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in V O C Street / Gandhi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total cost for these charges to Rs 2,52,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers V O C Street / Gandhi Nagar?

The Sub Registrar Office that covers V O C Street / Gandhi Nagar is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. To locate your nearest SRO, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Thalakanancherry. It is used to determine the stamp duty and registration fees that are applicable when registering a property. Buyers and sellers must be aware that the guideline value influences the overall cost of the transaction.

When a property is sold, the guideline value serves as a reference point for the transaction price. If the sale price is higher than the guideline value, the stamp duty will be calculated based on the sale price. Conversely, if the sale price is lower, the duty will be calculated on the guideline value.

Frequently asked questions

What is the current guideline value of V O C Street / Gandhi Nagar?

The current guideline value of V O C Street / Gandhi Nagar is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 700 per sq.ft in 2007 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 300% over this period.

What is the land classification for V O C Street / Gandhi Nagar?

V O C Street / Gandhi Nagar is classified as Residential Class II Type - II, indicating its suitability for residential development.

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

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2%. For example, a 1,000 sq.ft property at the current guideline value incurs a total charge of Rs 2,52,000 for these fees.

Which office handles property registrations for V O C Street / Gandhi Nagar?

The Alandur Sub Registrar Office handles property registrations for V O C Street / Gandhi Nagar, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.