Guideline Value for V.O.C STREET

V.O.C Street guideline value

The current guideline value for V.O.C Street in Perambur village, under the Purasaivakkam SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - II land classification.

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

The guideline value for V.O.C Street has seen several revisions over the years. In 2002, the register recorded a value of Rs 382 per sq.ft, which increased to Rs 419 per sq.ft in 2003, marking a 10% rise. The value further rose to Rs 500 per sq.ft in 2007, reflecting a 19% increase. By 2012, the value reached Rs 2,500 per sq.ft, which was a significant jump of 400% from the previous revision. However, in 2017, the value decreased to Rs 1,675 per sq.ft, showing a decline of 33%.

In 2023, the guideline value was revised to Rs 2,500 per sq.ft, and then it increased to Rs 2,700 per sq.ft in 2024, representing an 8% rise. Overall, from 2002 to 2024, the guideline value has increased by 607% for V.O.C Street.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with the median value being Rs 2,700 per sq.ft. V.O.C Street's 2024 guideline value aligns with this median.

• V.O.C Nagar Extension: Rs 2,200 per sq.ft (2024)
• V.O.C.Nagar All Streets: Rs 2,200 per sq.ft (2024)
• V.O.C Nagar 8th Street: Rs 2,200 per sq.ft (2024)
• V.O.C Nagar 7th Street: Rs 2,200 per sq.ft (2024)
• V.O.C Nagar 6th Street: Rs 2,200 per sq.ft (2024)
• V.O.C Nagar 5th Street: Rs 2,200 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 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers V.O.C Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of properties in Perambur. It is used to determine the stamp duty and registration fees that need to be paid at the time of property transactions. Buyers and sellers must be aware of the current guideline value to ensure compliance with the registration requirements.

When a property is sold, the guideline value is compared with the sale price, and the higher value is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property 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 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 382 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 607% over this period.

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

V.O.C Street is classified under Residential Class III Type - II, which indicates its use for residential purposes.

What are the stamp duty and registration fees for properties in V.O.C Street?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Where is the Sub Registrar Office for V.O.C Street located?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, and it covers V.O.C Street.