Guideline Value for V.O.C NAGAR EXTENSION

V.O.C Nagar Extension guideline value

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

How the guideline value of V.O.C Nagar Extension has changed

The guideline value for V.O.C Nagar Extension has undergone several revisions over the years. In 2007, the guideline value was set at Rs 500 per sq.ft. This figure increased significantly to Rs 2,000 per sq.ft in 2012, marking a 300% rise. However, in 2017, it decreased to Rs 1,340 per sq.ft, a reduction of 33%. The value then saw a substantial increase to Rs 2,000 per sq.ft in 2023, and most recently, it has risen to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 340%.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a guideline value for 2024, 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, placing V.O.C Nagar Extension's 2024 figure below this median.

• V.O.C.Nagar All Streets: Rs 2,200 per sq.ft (2024)
• V.O.C Nagar 8th 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 6th 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 4th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in V.O.C Nagar Extension

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 costs together to Rs 1,98,000. Please note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers V.O.C Nagar Extension?

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

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

The guideline value plays a crucial role during the registration of properties 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 through stamp duty and registration fees.

When buying or selling property, the guideline value is considered alongside the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring compliance with the legal requirements for property transactions.

Frequently asked questions

What is the current guideline value of V.O.C Nagar Extension?

The current guideline value of V.O.C Nagar Extension 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 500 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, representing an overall increase of 340% over this period.

What are the stamp duty and registration fees for property in V.O.C Nagar Extension?

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.

Which Sub Registrar Office is responsible for V.O.C Nagar Extension?

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

How is the guideline value used in property transactions?

The guideline value is used as a reference point during property registration to determine the minimum value for transactions. The higher of the guideline value or the sale price is used to calculate applicable stamp duty and registration fees.