Guideline Value for V.O.C NAGAR 7TH STREET

V.O.C Nagar 7th Street guideline value

The current guideline value of V.O.C Nagar 7th 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 7th Street has changed

The guideline value for V.O.C Nagar 7th Street has undergone 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. The value then saw a significant jump to Rs 2,000 per sq.ft in 2012, representing a 300% increase from the previous revision. However, in 2017, the value decreased to Rs 1,340 per sq.ft, a decline of 33%. The most recent revision in 2024 has set the guideline value at Rs 2,200 per sq.ft, reflecting a 64% increase from 2017.

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, 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, with a median value of Rs 2,700 per sq.ft. V.O.C Nagar 7th Street's 2024 guideline value of Rs 2,200 per sq.ft is below this median.

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

Stamp duty and registration fee for property in V.O.C Nagar 7th 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. Please note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers V.O.C Nagar 7th Street?

The Sub Registrar Office that covers V.O.C Nagar 7th 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 critical factor in the registration process when buying or selling property in Perambur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When you proceed with a property transaction, the guideline value is used to calculate the stamp duty and registration fees. This ensures that all transactions are transparent and comply with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of V.O.C Nagar 7th Street?

The current guideline value of V.O.C Nagar 7th 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, representing an overall increase of 468% over the years.

What is the registration office for V.O.C Nagar 7th Street?

The registration office for V.O.C Nagar 7th Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What are the stamp duty rates applicable for properties in V.O.C Nagar 7th Street?

The stamp duty rate applicable for properties in V.O.C Nagar 7th Street is 7% of the guideline value or the sale price, whichever is higher.

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

Yes, several other streets in Perambur have the same guideline value of Rs 2,200 per sq.ft for 2024, including V.O.C Nagar 6th Street, V.O.C Nagar 8th Street, and V.O.C Nagar 5th Street.