Guideline Value for V.O.C Street

V.O.C Street guideline value

The current guideline value of V.O.C Street in 5. Athipattu village under the Konnur SRO is Rs 1,600 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

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. In the 2017 revision, the value was Rs 1,005 per sq.ft. This increased to Rs 1,500 per sq.ft in the 2023 revision, marking a significant rise of 49%. The latest revision in 2024 set the guideline value at Rs 1,600 per sq.ft, reflecting a 7% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 59%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in 5. Athipattu

In 5. Athipattu, there are 119 streets under the Konnur SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 7,650 per sq.ft. The median guideline value in this village is Rs 2,200 per sq.ft, making V.O.C Street's 2024 figure below that median.

• Yamuna Street ICF Colony: Rs 2,400 per sq.ft (2024)
• Vengateshwaran Street: Rs 1,600 per sq.ft (2024)
• Vengada Subba Reddy Street: Rs 1,600 per sq.ft (2024)
• Vanagaram Road (Prince Green Wood Apts): Rs 3,600 per sq.ft (2024)
• Vanagaram Road: Rs 3,601 per sq.ft (2024)
• Vaigai Street(ICF): Rs 2,400 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 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more accurate calculations based on your specific circumstances.

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

The Sub Registrar Office that covers V.O.C Street is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in 5. Athipattu

The guideline value is a crucial factor in the registration process for property transactions in 5. Athipattu. 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 buying or selling property, it's essential to be aware of the guideline value, as it may influence negotiations and the final sale price. Buyers should ensure that the sale price is not lower than the guideline value to avoid potential issues during registration.

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 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,005 per sq.ft in 2017 to Rs 1,600 per sq.ft in 2024, reflecting a total increase of 59% over this period.

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

V.O.C Street falls under the Residential Class II Type - I land classification.

Which office handles property registration for V.O.C Street?

The Konnur Sub Registrar Office handles property registration for V.O.C Street, located at Villivakkam Panchayat, Ambattur, Chennai.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2% of the same. For example, a 1,000 sq.ft plot at the current rate results in total fees of Rs 1,44,000.