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 1,320 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - II.

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. In the 2012 revision, the value was set at Rs 1,200 per sq.ft. The most recent revision in 2024 increased this figure to Rs 1,320 per sq.ft, reflecting a change of 10% from the 2012 value.

There are no figures available for the revisions in the years 2003, 2007, 2017, and 2023 for this street. Therefore, the only available figures are from the 2012 and 2024 revisions.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, making the 2024 value for V.O.C Cross Street below the median.

• Viyasar Street: Rs 1,650 per sq.ft (2024)
• V.O.C. Nagar / Street: Rs 1,650 per sq.ft (2024)
• Vivekanandha 4th Cross Street: Rs 1,110 per sq.ft (2024)
• Vivekanandha 3rd Cross Street: Rs 1,110 per sq.ft (2024)
• Vivekanandha 2nd Cross Street: Rs 1,110 per sq.ft (2024)
• Vivekanandha 1st Cross Street/Nagar: Rs 1,110 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 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, leading to a total cost of Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more information on costs associated with property transactions.

Which Sub Registrar Office covers V.O.C Cross Street?

The Sub Registrar Office that covers V.O.C Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions as it determines the stamp duty and registration fees payable during the registration process. Buyers and sellers must consider this value to ensure compliance with legal requirements when transferring property ownership.

When a property is sold, the guideline value serves as a benchmark for the transaction, ensuring that the sale price is aligned with government regulations. This helps in maintaining transparency and fairness in the real estate market.

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 1,320 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2012 revision, the guideline value has increased from Rs 1,200 per sq.ft to Rs 1,320 per sq.ft in 2024, representing a change of 10%.

What are the other streets in Pallikaranai with their guideline values?

Other streets in Pallikaranai include Viyasar Street and V.O.C. Nagar, both at Rs 1,650 per sq.ft, while several Vivekanandha Cross Streets are at Rs 1,110 per sq.ft in 2024.

What is the stamp duty and registration fee for property in V.O.C Cross Street?

The stamp duty for a property valued at Rs 13,20,000 is Rs 92,400, and the registration fee is Rs 26,400, totaling Rs 1,18,800.

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 located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.