Guideline Value for V.O.C. 2ND STREET

V.O.C. 2nd Street guideline value

The current guideline value of V.O.C. 2nd Street in Puliyur village, under the Kodambakkam SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class IV Type - II land classification.

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

The guideline value for V.O.C. 2nd Street has seen several revisions over the years. In 2002, the guideline value was Rs 590 per sq.ft, which increased to Rs 648 per sq.ft in 2003. Following this, there was a significant rise to Rs 1,050 per sq.ft in 2007, and then a substantial increase to Rs 4,000 per sq.ft in 2012. However, the value decreased to Rs 2,680 per sq.ft in 2017. The 2023 revision saw the value rise again to Rs 4,000 per sq.ft, culminating in the current value of Rs 4,400 per sq.ft in the 2024 revision.

The changes between these revisions are notable. From 2002 to 2024, the guideline value increased by 646%. The most significant increase occurred from 2007 to 2012, with a rise of 281%. The value then decreased by 33% from 2012 to 2017. The most recent change from 2023 to 2024 saw an increase of 10%.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 14,300 per sq.ft, with a median value of Rs 5,800 per sq.ft. V.O.C. 2nd Street's 2024 guideline value of Rs 4,400 per sq.ft is below this median.

• V.O.C. 1st 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. 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total cost for these fees to 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.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers V.O.C. 2nd Street?

The Sub Registrar Office that covers V.O.C. 2nd 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 is a crucial factor in the registration process when buying or selling property in Puliyur. It serves as the basis for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately.

When a property is registered, the guideline value helps determine the legal value of the property for taxation purposes. Buyers and sellers must be aware of this value to understand the financial implications of their property transactions.

Frequently asked questions

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

The current guideline value of V.O.C. 2nd 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 significantly, from Rs 590 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 646%.

What is the land classification for V.O.C. 2nd Street?

V.O.C. 2nd Street is classified as Residential Class IV Type - II.

What are the other streets in Puliyur with their guideline values?

Other streets in Puliyur include V.O.C. 1st Street at Rs 4,400 per sq.ft, Viswanathapuram Main Road at Rs 8,800 per sq.ft, and several others ranging from Rs 7,100 to Rs 8,800 per sq.ft.

Where is the Kodambakkam Sub Registrar Office located?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.