Guideline Value for V.O.C NAGAR 2ND LANE

V.O.C Nagar 2nd Lane guideline value

The current guideline value of V.O.C Nagar 2nd Lane is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, and it falls under the Residential Class IV Type - I land classification.

How the guideline value of V.O.C Nagar 2nd Lane has changed

The guideline value for V.O.C Nagar 2nd Lane has seen significant changes over the years. In the 2007 revision, the guideline value was set at Rs 500 per sq.ft. This figure increased dramatically to Rs 2,000 per sq.ft in the 2012 revision, marking a 300% rise. The most recent revision in 2024 has established the guideline value at Rs 2,200 per sq.ft, reflecting a 10% increase from the 2012 figure.

There are no recorded figures for the years 2002, 2003, 2017, and 2023 for this street. Overall, from 2007 to 2024, the guideline value has increased by 340%.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that have a guideline value for 2024, 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 2nd Lane's 2024 figure below that median.

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

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 fees together 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.

You can also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers V.O.C Nagar 2nd Lane?

The Sub Registrar Office that covers V.O.C Nagar 2nd Lane is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. For more information, you can find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Perambur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property.

When a property is registered, the authorities will use the guideline value to calculate the applicable fees. Buyers should be aware that these fees are based on the higher value between the guideline value and the actual sale price of the property.

Frequently asked questions

What is the current guideline value of V.O.C Nagar 2nd Lane?

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

How much has the guideline value changed over the years?

Since the 2007 revision, the guideline value has increased significantly from Rs 500 per sq.ft to Rs 2,200 per sq.ft in 2024, marking an overall increase of 340%.

What are the stamp duty rates for property in V.O.C Nagar 2nd Lane?

The stamp duty for properties in V.O.C Nagar 2nd Lane is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office should I visit for property registration in V.O.C Nagar 2nd Lane?

The Purasaivakkam Sub Registrar Office is responsible for property registrations in V.O.C Nagar 2nd Lane, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

Are there other streets in Perambur with the same guideline value?

Yes, several other streets in Perambur also have a guideline value of Rs 2,200 per sq.ft as of 2024, including V.O.C Nagar 2nd Street, V.O.C Nagar 3rd Lane, V.O.C Nagar 3rd Street, V.O.C Nagar 1st Street, V.O.C Nagar 1st Lane, and V.O.C Nagar 4th Street.