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 is Rs 2,700 per sq.ft. This street is located in Thirumullaivoyal village, under the Ambattur SRO, and is classified as Residential Special Type - II.

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

The guideline value for V.O.C. 2nd Street has undergone several revisions over the years. In 2007, the guideline value was Rs 400 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a substantial rise of 525%. However, from 2012 to 2017, there was a decrease to Rs 1,675 per sq.ft, a drop of 33%. The value then climbed to Rs 2,500 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the guideline value at Rs 2,700 per sq.ft, an increase of 8% from the previous year.

It is important to note that there are no figures available for V.O.C. 2nd Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 575%.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, placing V.O.C. 2nd Street's 2024 figure above this median.

• V.O.C. 3rd Street: Rs 2,700 per sq.ft (2024)
• V.O.C. 1st Street: Rs 2,700 per sq.ft (2024)
• V.O.C. 4th Street: Rs 2,700 per sq.ft (2024)
• V.O.Chithambaram Street (Senthil Nagar): Rs 2,700 per sq.ft (2024)
• V.O.C. Nagar: Rs 2,700 per sq.ft (2024)
• Vivekannanda Nagar Thamarai Street: Rs 2,700 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 rate of Rs 2,700 per sq.ft, the guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to note that 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 information.

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

The Sub Registrar Office that covers V.O.C. 2nd Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor during the registration of property transactions in Thirumullaivoyal. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buyers and sellers engage in a transaction, the guideline value helps determine the official value of the property, which is essential for legal documentation and compliance with local regulations.

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 2,700 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 400 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 575% over the years.

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

V.O.C. 2nd Street is classified as Residential Special Type - II, indicating its designated use for residential purposes.

Where can I find the Sub Registrar Office for V.O.C. 2nd Street?

The Sub Registrar Office for V.O.C. 2nd Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for properties in Thirumullaivoyal?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,00,000, the stamp duty would be 7% of that value.