Guideline Value for V.O.C Nagar, 2nd Cross Street

V.O.C Nagar, 2nd Cross Street guideline value

The current guideline value of V.O.C Nagar, 2nd Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Pammal village under the Pammal SRO, classified as Commercial Class I Type - II.

How the guideline value of V.O.C Nagar, 2nd Cross Street has changed

The guideline value for V.O.C Nagar, 2nd Cross Street has seen several revisions over the years. In the 2017 revision, the value was Rs 1,675 per sq.ft, which increased to Rs 2,500 per sq.ft in the 2023 revision, marking a 49% increase. The most recent revision in 2024 set the value at Rs 2,750 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has risen by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft. The median value is Rs 2,090 per sq.ft, making the guideline value for V.O.C Nagar, 2nd Cross Street above this median.

• V.O.C Nagar, 1st Cross Street: Rs 2,750 per sq.ft (2024)
• VOC Nagar/Aravindan Street: Rs 2,750 per sq.ft (2024)
• VOC Street / Ambedkar Nagar: Rs 2,750 per sq.ft (2024)
• VOC Street / Mungil Lake: Rs 2,750 per sq.ft (2024)
• VOC Street / Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• V.O.C Street, Thiruvalluvar Nagar: Rs 2,475 per sq.ft (2024)

Stamp duty and registration fee for property in V.O.C Nagar, 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers V.O.C Nagar, 2nd Cross Street?

The Sub Registrar Office that covers V.O.C Nagar, 2nd Cross Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, within the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration process of property transactions in Pammal. It serves as a reference for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for both buyers and sellers. This helps in maintaining transparency in property dealings within the region.

Frequently asked questions

What is the current guideline value for V.O.C Nagar, 2nd Cross Street?

The current guideline value for V.O.C Nagar, 2nd Cross Street is Rs 2,750 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 1,675 per sq.ft in 2017 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 64% over this period.

What is the median guideline value for streets in Pammal?

The median guideline value for streets in Pammal is Rs 2,090 per sq.ft, with V.O.C Nagar, 2nd Cross Street's value being above this median.

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

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Where is the Sub Registrar Office for V.O.C Nagar located?

The Sub Registrar Office for V.O.C Nagar is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, within the Chengalpattu registration zone.