Guideline Value for V.O.C NAGAR 3RD STREET

V.O.C Nagar 3rd Street guideline value

The current guideline value of V.O.C Nagar 3rd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the Purasaivakkam SRO, and is classified as Residential Class IV Type - I.

How the guideline value of V.O.C Nagar 3rd Street has changed

The guideline value for V.O.C Nagar 3rd Street has undergone several revisions over the years. In 2003, the value was Rs 387 per sq.ft, which increased to Rs 500 per sq.ft in 2007. Following this, the value saw a significant rise to Rs 2,000 per sq.ft in 2012, before dropping to Rs 1,340 per sq.ft in 2017. The latest revision in 2024 has brought the value to Rs 2,200 per sq.ft.

In terms of percentage changes, from 2003 to 2007, the guideline value increased by 29%. However, from 2007 to 2012, there was a substantial increase of 300%. The value then decreased by 33% from 2012 to 2017, before experiencing a rise of 64% from 2017 to 2024. It is important to note that the register has no figures for the years 2023 and 2002 for this street.

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 for these streets is Rs 2,700 per sq.ft, making the current value of V.O.C Nagar 3rd Street below that median.

• V.O.C Nagar 3rd Lane: Rs 2,200 per sq.ft (2024)
• V.O.C Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• V.O.C Nagar 2nd 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)
• V.O.C Nagar 7th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in V.O.C Nagar 3rd 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, bringing the total 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 the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers V.O.C Nagar 3rd Street?

The Sub Registrar Office that covers V.O.C Nagar 3rd Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial 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 this value or the sale price, whichever is higher.

When a buyer and seller agree on a sale price, the guideline value ensures that the transaction is recorded accurately and fairly in the official register. This helps maintain transparency in property transactions within the region.

Frequently asked questions

What is the current guideline value of V.O.C Nagar 3rd Street?

The current guideline value of V.O.C Nagar 3rd 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 land classification of V.O.C Nagar 3rd Street?

V.O.C Nagar 3rd Street is classified as Residential Class IV Type - I.

Which Sub Registrar Office is responsible for V.O.C Nagar 3rd Street?

The Purasaivakkam Sub Registrar Office is responsible for V.O.C Nagar 3rd Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the stamp duty calculated for properties in V.O.C Nagar 3rd Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 1,54,000.