Guideline Value for V.O.C NAGAR 5TH STREET

V.O.C Nagar 5th Street guideline value

The current guideline value of V.O.C Nagar 5th 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 it falls under the Residential Class IV Type - I land classification.

How the guideline value of V.O.C Nagar 5th Street has changed

The guideline value for V.O.C Nagar 5th Street has seen 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, marking a 29% rise. The value then surged to Rs 2,000 per sq.ft in 2012, reflecting a significant increase of 300%. However, from 2012 to 2017, there was a decrease to Rs 1,340 per sq.ft, a decline of 33%. The most recent revision in 2024 has brought the guideline value up to Rs 2,200 per sq.ft, representing a 64% increase from the 2017 figure.

It is important to note that the register does not provide figures 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 guideline values vary across 1,114 streets under the Purasaivakkam SRO, with figures ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median guideline value for the area is Rs 2,700 per sq.ft, which means that the 2024 figure for V.O.C Nagar 5th Street is below this median.

• V.O.C Nagar 6th 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 7th Street: Rs 2,200 per sq.ft (2024)
• V.O.C Nagar 8th Street: Rs 2,200 per sq.ft (2024)
• V.O.C Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• V.O.C.Nagar All Streets: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in V.O.C Nagar 5th 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 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 use the stamp duty and registration fee calculator for precise calculations based on your property details.

Which Sub Registrar Office covers V.O.C Nagar 5th Street?

The Sub Registrar Office that covers V.O.C Nagar 5th Street 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 property registration in Perambur. It serves as a benchmark for determining the minimum sale price of properties in the area. Buyers and sellers must consider this value to ensure compliance with registration requirements.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the actual sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of V.O.C Nagar 5th Street?

The current guideline value of V.O.C Nagar 5th 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 increased from Rs 387 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, representing an overall increase of 468% over the years.

What is the median guideline value in Perambur?

The median guideline value for streets in Perambur is Rs 2,700 per sq.ft, which is higher than the current figure for V.O.C Nagar 5th Street.

What are the stamp duty and registration fees for properties in V.O.C Nagar 5th Street?

For a 1,000 sq.ft plot, the stamp duty is Rs 1,54,000, and the registration fee is Rs 44,000, totaling Rs 1,98,000.

Which office handles property registrations for V.O.C Nagar 5th Street?

The Purasaivakkam Sub Registrar Office handles property registrations for V.O.C Nagar 5th Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.