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) in Thailavaram village is Rs 881 per sq.ft, effective from 1 July 2024. This street falls 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

The guideline value for V.O.C Street has undergone several revisions over the years. In 2012, the guideline value was Rs 800 per sq.ft. This figure remained the same until the 2017 revision, where it decreased to Rs 536 per sq.ft, marking a decline of 33%. The subsequent revision in 2023 saw a significant increase to Rs 800 per sq.ft, followed by the latest revision in 2024, which raised the value to Rs 881 per sq.ft, reflecting a 10% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, comparing the 2012 figure to the current 2024 value, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thailavaram

Thailavaram village has a total of 132 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 770 per sq.ft, placing V.O.C Street's current value above this median.

• Vivekananthar Street (Ward-21): Rs 660 per sq.ft (2024)
• Vishnupriya Priya Avenue Ninnakarai: Rs 1,650 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 660 per sq.ft (2024)
• Vijayalakshmi Nagar Vallancheri (Ward -1): 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 881 per sq.ft, the total guideline value amounts to Rs 8,81,000. The stamp duty at 7% would be Rs 61,670, while the registration fee at 2% would be Rs 17,620, making the total cost for these charges Rs 79,290. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

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, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Thailavaram. It is used to determine the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of the current guideline value to ensure they are paying the correct fees during the registration process.

Moreover, the guideline value is essential for both parties to understand the financial implications of the property transaction. It helps in establishing a baseline for the property's worth, ensuring transparency in the registration process.

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 881 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then back to Rs 800 per sq.ft in 2023, and finally to Rs 881 per sq.ft in 2024.

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

V.O.C Street (Ward-20) is classified as Residential Class I Type - II.

Where is the Chengleput Joint II Sub Registrar Office located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

How is the stamp duty calculated for properties in V.O.C Street (Ward-20)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value of Rs 8,81,000 incurs a stamp duty of Rs 61,670 at 7%.