Guideline Value for V.O.C STREET

V.O.C Street guideline value

The current guideline value of V.O.C Street in Enjambakkam village, under the Neelankarai SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - I land classification.

How the guideline value of V.O.C Street has changed

The guideline value for V.O.C Street has seen significant changes over the years. In the 2003 revision, the guideline value was Rs 190 per sq.ft. This increased to Rs 500 per sq.ft in the 2007 revision, marking a substantial rise of 163%. The value then surged to Rs 2,000 per sq.ft in 2012, reflecting a remarkable increase of 300%. However, in the 2017 revision, it dropped to Rs 1,340 per sq.ft, a decrease of 33%. The 2023 revision saw it rise again to Rs 2,000 per sq.ft, and the latest 2024 revision set it at Rs 2,200 per sq.ft, an increase of 10%.

Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by 1,058%. The register has no figure for the year 2002 for this street.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 7,200 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, which matches the current value of V.O.C Street.

• V.O.C.Nagar: Rs 2,200 per sq.ft (2024)
• V.K.Salai Cross: Rs 1,100 per sq.ft (2024)
• Vivekanandar Street: Rs 2,800 per sq.ft (2024)
• Vinayakar Koil Street (Pillaiyar Koil Street): Rs 2,800 per sq.ft (2024)
• Vimala Garden: Rs 3,900 per sq.ft (2024)
• V.G.P.Lay Out Part I & II & III: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in V.O.C Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. Please note that the 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 further calculations.

Which Sub Registrar Office covers V.O.C Street?

The Sub Registrar Office that covers V.O.C Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Enjambakkam. It serves as a benchmark for determining the minimum value at which properties can be sold or bought. This value is used to calculate the stamp duty and registration fees applicable during the transaction.

When you buy or sell property in Enjambakkam, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation of properties. This process helps maintain transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of V.O.C Street?

The current guideline value of V.O.C Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 190 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, which represents an overall increase of 1,058%.

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

V.O.C Street falls under the Residential Class III Type - I land classification.

Where can I find the Sub Registrar Office for V.O.C Street?

The Neelankarai Sub Registrar Office covers V.O.C Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.