Guideline Value for V.O.C. 2nd Main Road

V.O.C. 2nd Main Road guideline value

The current guideline value of V.O.C. 2nd Main Road is Rs 7,600 per sq.ft, effective from 1 July 2024. This road is located in Kodambakkam village, under the Ashok Nagar SRO, classified as Residential Class I Type - III.

How the guideline value of V.O.C. 2nd Main Road has changed

Over the years, the guideline value of V.O.C. 2nd Main Road has seen significant changes. The 2007 revision set the value at Rs 1,860 per sq.ft, which increased dramatically to Rs 7,000 per sq.ft in both the 2012 and 2023 revisions. The latest revision in 2024 has further increased the value to Rs 7,600 per sq.ft, marking a 9% rise from the previous year.

From 2007 to 2012, the guideline value rose by 276%, and there was no change from 2012 to 2023. Overall, from 2007 to 2024, the increase is 309%. The register has no figures for the years 2002, 2003, and 2017 regarding this street.

Guideline values in Kodambakkam

Kodambakkam has a total of 1,031 streets under the Ashok Nagar SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, placing V.O.C. 2nd Main Road's value above the median.

• V.O.C. 2nd Cross Street (2nd Street): Rs 6,600 per sq.ft (2024)
• V.O.C. 3rd Cross Street (3rd Street): Rs 6,600 per sq.ft (2024)
• V.O.C. 1st Main Road: Rs 7,600 per sq.ft (2024)
• V.O.C. 1st Cross Street (1st Street): Rs 6,600 per sq.ft (2024)
• V.O.C. 4th Cross Street (4th Street): Rs 6,600 per sq.ft (2024)
• V.N. Janaki Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in V.O.C. 2nd Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 7,600 per sq.ft, the total guideline value is Rs 76,00,000. The stamp duty at 7% would be Rs 5,32,000, and the registration fee at 2% would be Rs 1,52,000, totaling Rs 6,84,000. 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. 2nd Main Road?

The Sub Registrar Office that covers V.O.C. 2nd Main Road is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Kodambakkam, as it determines the minimum price at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, it is essential to ensure that the sale price reflects the guideline value to avoid any discrepancies during the registration process. This ensures compliance with local regulations and helps in the smooth transfer of property ownership.

Frequently asked questions

What is the current guideline value of V.O.C. 2nd Main Road?

The current guideline value of V.O.C. 2nd Main Road is Rs 7,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,860 per sq.ft in 2007 to Rs 7,600 per sq.ft in 2024, showing a significant rise over the years.

What is the land classification of V.O.C. 2nd Main Road?

V.O.C. 2nd Main Road is classified as Residential Class I Type - III.

Where can I find the registration office for V.O.C. 2nd Main Road?

The registration office is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties on V.O.C. 2nd Main Road?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 5,32,000.