Guideline Value for V.O.C Street (Chozhen Nagar)

V.O.C Street (Chozhen Nagar) guideline value

The current guideline value of V.O.C Street (Chozhen Nagar) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village under the Selaiyur SRO, classified as Residential Class II Type - II.

How the guideline value of V.O.C Street (Chozhen Nagar) has changed

The guideline value for V.O.C Street (Chozhen Nagar) has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,300 per sq.ft, an increase of 8% from the 2023 revision, which was Rs 1,200 per sq.ft. Prior to that, the 2012 revision also recorded the guideline value at Rs 1,200 per sq.ft, indicating no change from 2012 to 2023. The register has no figures for the years 2017, 2007, 2003, and 2002.

Overall, from 2012 to 2024, the guideline value increased by 8%. This reflects a steady adjustment in the valuation of properties in the area, with the current figure now aligning with the recent revision trends.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in this village is Rs 2,400 per sq.ft, placing V.O.C Street's 2024 figure below that median.

• V.Santha Nagar: Rs 3,800 per sq.ft (2024)
• West Mada Street: Rs 2,750 per sq.ft (2024)
• West Main Road: Rs 1,600 per sq.ft (2024)
• Yashwanth Nagar: Rs 2,750 per sq.ft (2024)
• Yashwanth Nagar 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Yashwanth Nagar 1st Main Road: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in V.O.C Street (Chozhen Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers V.O.C Street (Chozhen Nagar)?

The Sub Registrar Office that covers V.O.C Street (Chozhen Nagar) is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable when registering a property. Buyers and sellers should be aware that the guideline value is used to assess the official value of the property for taxation purposes.

When you buy or sell property in V.O.C Street (Chozhen Nagar), the guideline value will influence the overall costs involved in the transaction. It is essential to consider this figure to ensure compliance with local regulations and to accurately calculate the financial obligations associated with the property transfer.

Frequently asked questions

What is the current guideline value for V.O.C Street (Chozhen Nagar)?

The current guideline value for V.O.C Street (Chozhen Nagar) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,200 per sq.ft from 2012 to 2023, and then it increased to Rs 1,300 per sq.ft in 2024, marking an overall increase of 8% from 2012 to 2024.

What is the land classification for V.O.C Street (Chozhen Nagar)?

V.O.C Street (Chozhen Nagar) is classified as Residential Class II Type - II, indicating its suitability for residential developments.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Madambakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property with a guideline value of Rs 13,00,000, the stamp duty would be calculated at 7% of that amount.