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) in Panangottur village is Rs 1,320 per sq.ft, effective from 1 July 2024. This street falls under the Chengleput Joint II SRO and is classified as Residential Special Type - V.

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

The guideline value for V.O.C Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then decreased to Rs 804 per sq.ft in the 2017 revision. However, this figure increased significantly to Rs 1,200 per sq.ft in the 2023 revision, and currently stands at Rs 1,320 per sq.ft from the 2024 revision, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a substantial increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft, with a median value of Rs 990 per sq.ft. V.O.C Street's current guideline value of Rs 1,320 per sq.ft is above this median.

• V.O.Sithamparanar Salai (Ward -8): Rs 1,760 per sq.ft (2024)
• Yadavar Street (Ward -19): Rs 550 per sq.ft (2024)
• Vivekananda Nagar (Ward -18): Rs 661 per sq.ft (2024)
• Vishnupriya Avenue (Ward -2): Rs 1,650 per sq.ft (2024)
• Yerikkarai Street (Ward -3): Rs 990 per sq.ft (2024)
• Vip Enclave: Rs 1,760 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 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total cost for these fees to Rs 1,18,800. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office covering V.O.C Street (Ward -8) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Panangottur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is used to calculate the applicable fees, which are charged on the higher of the guideline value or the sale price. This ensures that all transactions are conducted transparently and in accordance with the regulations set by the Registration Department.

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 1,320 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 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and currently stands at Rs 1,320 per sq.ft in 2024.

What is the land classification for V.O.C Street?

V.O.C Street (Ward -8) is classified as Residential Special Type - V.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II SRO is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for properties in V.O.C Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 1,18,800.