Guideline Value for V.O.C NAGAR 6TH STREET

V.O.C Nagar 6th Street guideline value

The current guideline value of V.O.C Nagar 6th 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 6th Street has changed

The guideline value for V.O.C Nagar 6th Street has undergone several revisions since 2003. In 2003, the guideline value was Rs 387 per sq.ft, which increased to Rs 500 per sq.ft in 2007. This marked a significant increase of 29%. The value then surged to Rs 2,000 per sq.ft in 2012, reflecting a remarkable 300% rise. However, between 2012 and 2017, the value dropped to Rs 1,340 per sq.ft, a decrease of 33%. The latest revision in 2024 has set the guideline value at Rs 2,200 per sq.ft, which is an increase of 64% from the 2017 figure.

There are no figures available for the years 2023 and 2002 for this street in the register. Overall, from 2003 to 2024, the guideline value has increased by 468%.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO, with 2024 guideline values ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value is Rs 2,700 per sq.ft, placing V.O.C Nagar 6th Street's current value below this median.

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

Stamp duty and registration fee for property in V.O.C Nagar 6th Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the 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, totaling 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 information.

Which Sub Registrar Office covers V.O.C Nagar 6th Street?

The Sub Registrar Office that covers V.O.C Nagar 6th Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value is an essential factor when registering 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 is used to calculate the stamp duty and registration fees, which are mandatory for legal ownership transfer. Buyers should be aware of the guideline value to understand their financial obligations during the transaction process.

Frequently asked questions

What is the current guideline value of V.O.C Nagar 6th Street?

The current guideline value of V.O.C Nagar 6th 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.

What are the stamp duty and registration fees for properties in V.O.C Nagar 6th Street?

The stamp duty is 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 22,00,000, the total fees would amount to Rs 1,98,000.

Which office handles property registrations for V.O.C Nagar 6th Street?

The Purasaivakkam Sub Registrar Office handles property registrations for V.O.C Nagar 6th Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification of V.O.C Nagar 6th Street?

V.O.C Nagar 6th Street is classified as Residential Class IV Type - I, which is relevant for determining its guideline value and usage.