Guideline Value for V.O.C Street

V.O.C Street guideline value

The current guideline value of V.O.C Street is Rs 2,640 per sq.ft, effective from 1 July 2024. This street is located in Perungalathur village under the Padappai SRO, classified as Residential Class I Type - I.

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 the 2007 revision, the value was Rs 350 per sq.ft, which increased significantly to Rs 2,400 per sq.ft in 2012. However, it dropped to Rs 1,608 per sq.ft in 2017. The 2023 revision set the value at Rs 2,400 per sq.ft, followed by the current 2024 revision which increased it to Rs 2,640 per sq.ft.

In terms of percentage changes, the value saw a remarkable increase of 586% from 2007 to 2012, followed by a decrease of 33% from 2012 to 2017. From 2017 to 2023, there was a substantial increase of 49%, and finally, an increase of 10% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 654%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,310 per sq.ft, making V.O.C Street's 2024 value above the median.

• V.N.Apartments: Rs 2,640 per sq.ft (2024)
• Vivek Nagar Extension: Rs 1,320 per sq.ft (2024)
• Vivek Nagar: Rs 1,980 per sq.ft (2024)
• Vivekananda Street: Rs 2,640 per sq.ft (2024)
• Vishnu Nagar Extn II: Rs 1,980 per sq.ft (2024)
• Vishnu Nagar 4th Street: Rs 2,310 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 2,640 per sq.ft, the total guideline value amounts to Rs 26,40,000. The stamp duty at 7% would be Rs 1,84,800, and the registration fee at 2% would be Rs 52,800, bringing the total charges to Rs 2,37,600. It is important to note that 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?

The Sub Registrar Office that covers V.O.C Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Perungalathur. 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 a property is sold, the guideline value is compared to the sale price. The higher of the two figures is used to calculate the stamp duty, which is a mandatory fee that must be paid at the time of registration. This ensures that the government receives fair revenue from property transactions in the area.

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 2,640 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 350 per sq.ft in 2007 to Rs 2,640 per sq.ft in 2024, reflecting a significant increase of 654% over the years.

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

V.O.C Street is classified as Residential Class I Type - I under the Padappai SRO.

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

The Sub Registrar Office for V.O.C Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is 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 of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 1,84,800.