Guideline Value for V.O.C NAGAR 1ST STREET

V.O.C Nagar 1st Street guideline value

The current guideline value of V.O.C Nagar 1st Street is Rs 2,200 per sq.ft. This street is located in Perambur village, under the Purasaivakkam SRO, and falls under the Residential Class IV Type - I land classification.

How the guideline value of V.O.C Nagar 1st Street has changed

The guideline value for V.O.C Nagar 1st Street has undergone several revisions over the years. Starting from Rs 387 per sq.ft in 2003, it increased to Rs 500 per sq.ft in 2007, reflecting a 29% rise. The subsequent revision in 2012 saw a significant jump to Rs 2,000 per sq.ft, marking a 300% increase from the previous figure. There are no figures available for the years 2002, 2017, and 2023.

The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, which is a 10% increase from the 2012 figure. Overall, from 2003 to 2024, the guideline value has increased by 468%, showcasing substantial growth over the years.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median guideline value in this area is Rs 2,700 per sq.ft, placing V.O.C Nagar 1st Street below that median.

• V.O.C Nagar 1st Lane: Rs 2,200 per sq.ft (2024)
• V.O.C Nagar 2nd Lane: Rs 2,200 per sq.ft (2024)
• V.O.C Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• V.O.C Nagar 3rd Lane: Rs 2,200 per sq.ft (2024)
• V.O.C Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• V.O.C Nagar 4th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in V.O.C Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers V.O.C Nagar 1st Street?

The Sub Registrar Office that covers V.O.C Nagar 1st Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for further assistance.

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

The guideline value is a critical factor in the registration process when buying or selling property in Perambur. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When engaging in property transactions, understanding the guideline value helps in accurately estimating the costs involved in registration. It is essential for both buyers and sellers to be aware of these values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of V.O.C Nagar 1st Street?

The current guideline value of V.O.C Nagar 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 387 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 468% over the years.

What is the median guideline value in Perambur?

The median guideline value in Perambur is Rs 2,700 per sq.ft, which is higher than the current value of V.O.C Nagar 1st Street.

What are the stamp duty and registration fees for property in V.O.C Nagar 1st Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 22,00,000, leading to a stamp duty of Rs 1,54,000 and a registration fee of Rs 44,000, totaling Rs 1,98,000.

Which office handles the registration for V.O.C Nagar 1st Street?

The registration for V.O.C Nagar 1st Street is handled by the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.