Guideline Value for V.O.C Street

V.O.C Street guideline value

The current guideline value of V.O.C Street in Maathoor village is Rs 500 per sq.ft, effective from 1 July 2024. This street falls under the jurisdiction of the Sunguvarchattram SRO and is classified as Residential Special Type - III.

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

The guideline value for V.O.C Street has undergone several revisions over the years. The 2012 revision set the value at Rs 500 per sq.ft, which remained unchanged in the following revision in 2023. However, the earlier revision in 2017 saw a decrease to Rs 335 per sq.ft, marking a significant drop of 33% from the previous 2012 figure. There are no figures available for the revisions in 2002, 2003, and 2007.

From 2017 to 2023, the value increased by 49%, bringing it back to Rs 500 per sq.ft. The current 2024 revision reflects no change from the 2023 figure, maintaining the value at Rs 500 per sq.ft. Overall, from 2012 to 2024, the guideline value has shown no net change.

Guideline values in Maathoor

In Maathoor, there are 47 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 250 to Rs 2,687 per sq.ft. The median guideline value is Rs 500 per sq.ft, which is equal to the current value of V.O.C Street.

• VGP Jayanthi Town Part-I: Rs 400 per sq.ft (2024)
• VGP Jayanthi Town: Rs 400 per sq.ft (2024)
• Venkateshwara Nagar: Rs 250 per sq.ft (2024)
• Valluvar Street: Rs 500 per sq.ft (2024)
• Town House Phase-II @ Temple Green: Rs 1,000 per sq.ft (2024)
• Thiruvalluvar Nagar: Rs 250 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 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, while the registration fee at 2% would be Rs 10,000, bringing the total fees to Rs 45,000. 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 Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Maathoor. It is used to determine the stamp duty and registration fees that must be paid, ensuring that the transaction is officially recorded and compliant with local regulations.

When a property is sold, the buyer and seller must refer to the guideline value to calculate the applicable fees. This ensures transparency in the transaction and helps in maintaining a standardized approach to property dealings in the region.

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 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 500 per sq.ft since 2012, with a decrease to Rs 335 per sq.ft in 2017, and then returning to Rs 500 per sq.ft in 2023. There are no figures available for the revisions in 2002, 2003, and 2007.

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

V.O.C Street is classified as Residential Special Type - III, indicating its designated use for residential purposes.

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

For a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000 and the registration fee would be Rs 10,000, totaling Rs 45,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office for V.O.C Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.