Guideline Value for V.O.C. 1ST STREET

V.O.C. 1st Street guideline value

The current guideline value of V.O.C. 1st Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village, under the Kodambakkam SRO, and is classified as Residential Class IV Type - II.

How the guideline value of V.O.C. 1st Street has changed

The guideline value for V.O.C. 1st Street has undergone several revisions over the years. The earliest recorded figure is from 2002, where the value was Rs 590 per sq.ft. This increased to Rs 648 per sq.ft in 2003, marking a 10% rise. The value saw a significant jump to Rs 1,050 per sq.ft in 2007, which was a 62% increase. In 2012, the value was recorded at Rs 4,000 per sq.ft, showing a substantial increase of 281% from the previous revision.

Following this, the 2017 revision noted a decrease to Rs 2,680 per sq.ft, a drop of 33%. The value then rose to Rs 4,000 per sq.ft in 2023, which was a 49% increase. The latest revision in 2024 has set the guideline value at Rs 4,400 per sq.ft, reflecting a 10% rise from the previous year.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO, with the 2024 guideline values ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median value for these streets is Rs 5,800 per sq.ft, placing V.O.C. 1st Street's 2024 figure below that median.

• V.O.C. 2nd Street: Rs 4,400 per sq.ft (2024)
• Viswanathapuram Main Road: Rs 8,800 per sq.ft (2024)
• Viswanathapuram Extension: Rs 7,100 per sq.ft (2024)
• Viswanathapuram 3rd Street: Rs 7,100 per sq.ft (2024)
• Viswanathapuram 2nd Street: Rs 7,100 per sq.ft (2024)
• Viswanathapuram 1st Street: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in V.O.C. 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, making the total cost for these fees Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers V.O.C. 1st Street?

The Sub Registrar Office that covers V.O.C. 1st Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Puliyur. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. This ensures that the transaction is recorded at a value that reflects the current market conditions as set by the government.

When a property transaction occurs, the guideline value is assessed to ensure that the fees are calculated accurately. This value is essential for both buyers and sellers to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of V.O.C. 1st Street?

The current guideline value of V.O.C. 1st Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 590 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting a total increase of 646% over the years.

What are the stamp duty and registration fees for property in V.O.C. 1st Street?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles the registration for V.O.C. 1st Street?

The Kodambakkam Sub Registrar Office handles the registration for V.O.C. 1st Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What is the land classification for V.O.C. 1st Street?

V.O.C. 1st Street is classified as Residential Class IV Type - II, indicating its designation for residential use.