Guideline Value for V.O.C STREET (WARD-20)

V.O.C Street (Ward-20) guideline value

The current guideline value of V.O.C Street (Ward-20) is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Potheri village, under the Chengleput Joint II SRO, and is classified as Residential Class I Type - II.

How the guideline value of V.O.C Street (Ward-20) has changed

In the 2012 revision, the guideline value was set at Rs 800 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 536 per sq.ft, marking a decline of 33%. The following revision in 2023 saw a significant increase to Rs 800 per sq.ft, and then the latest revision in 2024 raised it further to Rs 880 per sq.ft, reflecting a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

Overall, from 2012 to 2024, the guideline value has increased by 10%. Notably, the jump from 2017 to 2023 was substantial, with a 49% increase, indicating a notable change in the valuation of the property over these years.

Guideline values in Potheri

Potheri village has a total of 129 streets under the Chengleput Joint II SRO, with guideline values in 2024 ranging from Rs 440 to Rs 2,970 per sq.ft. The median guideline value for the village is Rs 770 per sq.ft, placing V.O.C Street's 2024 figure above this median.

• White Town Villas: Rs 2,200 per sq.ft (2024)
• Vivekananthar Street (Ward-21): Rs 660 per sq.ft (2024)
• Vishnupriya Priya Avenue Ninnakarai: Rs 1,651 per sq.ft (2024)
• Yerikkarai Street (Ward -1): Rs 440 per sq.ft (2024)
• Viknarajapuram Vallancheri (Ward -1): Rs 770 per sq.ft (2024)
• Vijayalakshmi Nagar (Ward-21): Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in V.O.C Street (Ward-20)

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total cost for these fees to Rs 79,200. It is important to note that 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 more details.

Which Sub Registrar Office covers V.O.C Street (Ward-20)?

The Sub Registrar Office that covers V.O.C Street (Ward-20) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Potheri, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate stamp duty and registration fees, ensuring that the transaction is officially recorded.

During the registration process, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures transparency and compliance with local regulations in property dealings.

Frequently asked questions

What is the current guideline value of V.O.C Street (Ward-20)?

The current guideline value of V.O.C Street (Ward-20) is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent increase from Rs 800 per sq.ft in 2023 to Rs 880 per sq.ft in 2024. The value also decreased from Rs 800 in 2012 to Rs 536 in 2017 before rising again.

What is the land classification of V.O.C Street (Ward-20)?

V.O.C Street (Ward-20) is classified as Residential Class I Type - II. This classification affects the guideline value and potential uses of the property.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles registrations for properties in the area, including V.O.C Street.

How is stamp duty calculated for properties in Potheri?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a property valued at Rs 8,80,000 would incur a stamp duty of Rs 61,600 at 7%.