Guideline Value for V O C Street

V O C Street guideline value

The current guideline value of V O C Street in Ullagaram village, under the Alandur SRO, is Rs 2,800 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of V O C Street has changed

The guideline value of V O C Street has seen significant changes over the years. In 2002, the guideline value was Rs 172 per sq.ft, which increased to Rs 193 per sq.ft in 2003, marking a 12% rise. The value then surged to Rs 1,000 per sq.ft in 2007, reflecting a substantial increase of 418%. Following this, the value decreased to Rs 2,500 per sq.ft in 2012, a decline of 33%. In 2017, the value was Rs 1,675 per sq.ft, which then rose to Rs 2,500 per sq.ft in 2023, showing a 49% increase. The most recent revision in 2024 set the value at Rs 2,800 per sq.ft, a 12% increase from the previous year.

There are no figures available for the revisions in years other than those listed. Overall, from 2002 to 2024, the guideline value has increased by 1,528%.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,800 per sq.ft, which is equal to the current value of V O C Street.

• Vivekananda Street: Rs 2,800 per sq.ft (2024)
• Yerikkarai Street: Rs 1,700 per sq.ft (2024)
• Yogeshwaran Cross Street: Rs 3,900 per sq.ft (2024)
• Yogeshwaran Street Main: Rs 3,900 per sq.ft (2024)
• Vikneshwarar Nagar Main: Rs 2,800 per sq.ft (2024)
• Vikneshwarar 3rd Street: Rs 2,800 per sq.ft (2024)

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

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 fees to Rs 2,52,000. It is important to note that 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 Street?

The Sub Registrar Office that covers V O C Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ullagaram. It serves as a benchmark for determining the value of the property for taxation purposes, ensuring that the transaction is recorded at a fair value.

When registering a property, buyers must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of V O C Street 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, with the most recent revision in 2024 setting it at Rs 2,800 per sq.ft, up from Rs 2,500 per sq.ft in 2023.

What is the land classification for V O C Street?

V O C Street is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for property in V O C Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 28,00,000, with stamp duty at Rs 1,96,000 and registration fees at Rs 56,000, totaling Rs 2,52,000.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.