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

V.O.C Nagar 2nd Street guideline value

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

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

The guideline value for V.O.C Nagar 2nd Street has seen several revisions over the years. In 2003, the guideline value was Rs 387 per sq.ft, which increased to Rs 500 per sq.ft in 2007, marking a 29% rise. Following this, it surged to Rs 2,000 per sq.ft in 2012, reflecting a significant increase of 300%. However, the value then dropped to Rs 1,340 per sq.ft in 2017, a decrease of 33%. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, representing a 64% increase from the previous figure.

It is important to note that there are no figures available for the years 2023 and 2002 for this street. Overall, from 2003 to 2024, the guideline value has increased by 468%.

Guideline values in Perambur

In Perambur, the 2024 guideline values range from Rs 1,600 to Rs 7,100 per sq.ft across 1,114 streets under the Purasaivakkam SRO, with a median value of Rs 2,700 per sq.ft. V.O.C Nagar 2nd Street's 2024 guideline value is below this median.

• V.O.C Nagar 3rd 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 3rd Street: Rs 2,200 per sq.ft (2024)
• V.O.C Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• V.O.C Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• V.O.C Nagar 6th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in V.O.C Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, leading to a total of 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 use the stamp duty and registration fee calculator for more precise calculations.

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

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

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

The guideline value is a critical factor in the registration process of property transactions in Perambur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property in the eyes of the law. It is essential for buyers to be aware of the guideline value to avoid disputes during the registration process.

Frequently asked questions

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

The current guideline value of V.O.C Nagar 2nd 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 significantly from Rs 387 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 468% over the years.

Which Sub Registrar Office is responsible for V.O.C Nagar 2nd Street?

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

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

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

Yes, several other streets in Perambur have the same guideline value of Rs 2,200 per sq.ft in 2024, including V.O.C Nagar 3rd Lane, V.O.C Nagar 2nd Lane, V.O.C Nagar 3rd Street, V.O.C Nagar 4th Street, V.O.C Nagar 5th Street, and V.O.C Nagar 6th Street.