Guideline Value for V.O.C Street

V.O.C Street guideline value

The current guideline value of V.O.C Street in Nasarathpettai village is Rs 1,320 per sq.ft, effective from 1 July 2024. This street falls under the Poonamallee SRO and is 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 undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,200 per sq.ft, and the most recent 2024 revision has set it at Rs 1,320 per sq.ft.

From 2017 to 2023, the guideline value saw a significant increase of 49%. The transition from 2023 to 2024 reflects a 10% rise. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Nasarathpettai

Nasarathpettai has 19 streets under the Poonamallee SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 1,320 per sq.ft, which is equal to the current value of V.O.C Street.

• Yamuna Nagar: Rs 1,320 per sq.ft (2024)
• Varadappa Mudaliar Street: Rs 1,320 per sq.ft (2024)
• Thirupur Kumaran Street: Rs 1,320 per sq.ft (2024)
• Shri Vaaru Avenue: Rs 1,320 per sq.ft (2024)
• Sathiyamoorthy Street: Rs 1,320 per sq.ft (2024)
• Rajarathinam nagar: Rs 1,320 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 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

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

The Sub Registrar Office that covers V.O.C Street is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nasarathpettai. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the state receives appropriate revenue from property transactions.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and in compliance with the regulations set by the Registration Department.

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 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

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

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

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

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 1,18,800.

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

The Poonamallee Sub Registrar Office is located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056, which covers V.O.C Street.