Guideline Value for V.O.C. 3rd Street

V.O.C. 3rd Street guideline value

The current guideline value of V.O.C. 3rd Street is Rs 2,700 per sq.ft, effective from 1 July 2024. 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. 3rd Street has changed

The guideline value for V.O.C. 3rd Street has seen 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 by 2012. However, it then decreased to Rs 1,675 per sq.ft in 2017. The value rose again to Rs 2,500 per sq.ft in 2023, and finally, it has reached Rs 2,700 per sq.ft in the 2024 revision.

Between these revisions, there have been notable changes. From 2007 to 2012, the value increased by 525%. However, from 2012 to 2017, it decreased by 33%. The value then increased by 49% from 2017 to 2023, and there was an 8% increase from 2023 to 2024. 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. 3rd Street's current value above this median.

• V.O.C. 4th Street: Rs 2,700 per sq.ft (2024)
• V.O.C. 2nd Street: Rs 2,700 per sq.ft (2024)
• V.O.C. 1st 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. 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total 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.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers V.O.C. 3rd Street?

The Sub Registrar Office that covers V.O.C. 3rd Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is an essential factor during the registration of property transactions in Thirumullaivoyal. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in establishing a fair price for the transaction. Buyers and sellers must consider this value to comply with legal requirements and avoid potential disputes during the registration process.

Frequently asked questions

What is the current guideline value of V.O.C. 3rd Street?

The current guideline value of V.O.C. 3rd 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 from Rs 400 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, with several revisions in between, including a decrease in 2017.

What is the land classification for V.O.C. 3rd Street?

V.O.C. 3rd Street is classified as Residential Special Type - II.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000, and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Where can I find the Sub Registrar Office for V.O.C. 3rd Street?

The Sub Registrar Office for V.O.C. 3rd Street is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.