Guideline Value for V.O.C. Cross St ( Ward No.21 )

V.O.C. Cross St ( Ward No.21 ) guideline value

The current guideline value of V.O.C. Cross St ( Ward No.21 ) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of V.O.C. Cross St ( Ward No.21 ) has changed

The guideline value for V.O.C. Cross St has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged in the 2023 revision. However, the 2024 revision increased the guideline value to Rs 1,600 per sq.ft, reflecting a 7% increase from the previous year.

There are no figures available for the years 2002, 2003, 2007, and 2017 in the register for this street. Overall, the guideline value has increased by 7% from Rs 1,500 per sq.ft in 2012 to Rs 1,600 per sq.ft in 2024.

Guideline values in Madhavaram

In Madhavaram, there are 1946 streets under the Madhavaram SRO carrying a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for V.O.C. Cross St aligns with this median.

• V.O.C. 3rd Street (Ward 22): Rs 1,600 per sq.ft (2024)
• V.O.C. 2nd St ( Ward No.21 ): Rs 1,600 per sq.ft (2024)
• V.O.C. 1st Street, Ponniammanmedu (Ward-21): Rs 1,600 per sq.ft (2024)
• V.N.G.Road ( Ward No.2 ): Rs 1,300 per sq.ft (2024)
• V.N.G. Road (Ward-02): Rs 1,300 per sq.ft (2024)
• V.N.G. Nagar / Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in V.O.C. Cross St ( Ward No.21 )

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, making the total cost Rs 1,44,000. Please note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers V.O.C. Cross St ( Ward No.21 )?

The Sub Registrar Office covering V.O.C. Cross St ( Ward No.21 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of V.O.C. Cross St ( Ward No.21 )?

The current guideline value of V.O.C. Cross St ( Ward No.21 ) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,500 per sq.ft in 2012 to Rs 1,600 per sq.ft in 2024, reflecting a 7% increase. There were no changes recorded for the years 2002, 2003, 2007, and 2017.

What is the land classification of V.O.C. Cross St ( Ward No.21 )?

V.O.C. Cross St ( Ward No.21 ) is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

What is the stamp duty rate for properties in Madhavaram?

The stamp duty rate for properties in Madhavaram is 7% of the guideline value or sale price, whichever is higher. This is applicable during the registration of properties.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find more information about your SRO through the provided link.