Guideline Value for V.O.C Streets

V.O.C Streets guideline value

The current guideline value of V.O.C Streets in Satthankadu village, under the Thiruvottiyur SRO, is Rs 3,400 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - III.

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

The guideline value for V.O.C Streets has seen several revisions over the years. In 2007, the guideline value was Rs 600 per sq.ft, which increased significantly to Rs 3,100 per sq.ft in 2012, marking a 417% increase. However, it then decreased to Rs 2,077 per sq.ft in 2017, a reduction of 33%. The value rose again to Rs 3,100 per sq.ft in 2023, and finally to Rs 3,400 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen by 467%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Satthankadu

In Satthankadu, there are 71 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft, with the median value being Rs 3,400 per sq.ft. The guideline value for V.O.C Streets is equal to this median.

• West Mada Street: Rs 3,400 per sq.ft (2024)
• Vivekanadan street: Rs 3,400 per sq.ft (2024)
• Y.M.C.A. Street: Rs 3,400 per sq.ft (2024)
• Village Street: Rs 3,400 per sq.ft (2024)
• Veera raghavan street: Rs 3,400 per sq.ft (2024)
• Vasantha Nagar: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in V.O.C Streets

For a 1,000 sq.ft plot at the current guideline value of Rs 3,400 per sq.ft, the total guideline value would be Rs 34,00,000. The stamp duty at 7% would be Rs 2,38,000, and the registration fee at 2% would be Rs 68,000, bringing the total to Rs 3,06,000. 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 details.

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

The Sub Registrar Office that covers V.O.C Streets is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Satthankadu. It determines the minimum value at which the property must be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the guideline value serves as a benchmark for calculating stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, ensuring compliance with the regulatory requirements.

Frequently asked questions

What is the current guideline value of V.O.C Streets?

The current guideline value of V.O.C Streets is Rs 3,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 3,400 per sq.ft in 2024, reflecting an overall increase of 467% over the years.

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

The land classification for V.O.C Streets is Residential Special Type - III.

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

The Sub Registrar Office for V.O.C Streets is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is the stamp duty calculated for properties in V.O.C Streets?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 34,00,000, the stamp duty would be Rs 2,38,000 at 7%.