Guideline Value for V.O.C STREET (WARD -8)

V.O.C Street (Ward -8) guideline value

The current guideline value of V.O.C Street (Ward -8) is Rs 1,321 per sq.ft. This street is located in Ninna Karai village under the Chengleput Joint II SRO, and it falls under the land classification of Residential Special Type - V.

How the guideline value of V.O.C Street (Ward -8) has changed

Over the years, the guideline value of V.O.C Street (Ward -8) has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision, marking a decrease of 33%. However, the value increased significantly to Rs 1,200 per sq.ft in the 2023 revision, followed by a further increase to Rs 1,321 per sq.ft in the 2024 revision, reflecting a 10% rise.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has risen by 10%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

In Ninna Karai, there are 449 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value in this village is Rs 1,100 per sq.ft, making the 2024 figure for V.O.C Street (Ward -8) above that median.

• V.O.Sithamparanar Salai (Ward -8): Rs 1,760 per sq.ft (2024)
• Yadavar Street (Ward -19): Rs 660 per sq.ft (2024)
• Vivekananda Nagar (Ward -18): Rs 1,100 per sq.ft (2024)
• Vishnupriya Avenue (Ward -2): Rs 1,650 per sq.ft (2024)
• Vishnupriya Avenue Phase -III: Rs 1,650 per sq.ft (2024)
• Vishnupriya Avenue Phase -II: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in V.O.C Street (Ward -8)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,321 per sq.ft, the total guideline value would be Rs 13,21,000. The stamp duty at 7% would amount to Rs 92,470, and the registration fee at 2% would be Rs 26,420, bringing the total to Rs 1,18,890. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers V.O.C Street (Ward -8)?

The Sub Registrar Office that covers V.O.C Street (Ward -8) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Ninna Karai. It serves as a reference point for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of V.O.C Street (Ward -8)?

The current guideline value of V.O.C Street (Ward -8) is Rs 1,321 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2023 to Rs 1,321 per sq.ft in 2024, reflecting a 10% increase. It was Rs 804 per sq.ft in 2017, which marked a 49% increase by 2023.

What is the land classification of V.O.C Street (Ward -8)?

V.O.C Street (Ward -8) is classified as Residential Special Type - V, indicating its suitability for residential development.

Where can I find the Chengleput Joint II SRO?

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

How is stamp duty calculated for properties in Ninna Karai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 13,21,000, the stamp duty would be calculated at 7% of this value.