Guideline Value for V.O.C. Lakshmi Street

V.O.C. Lakshmi Street guideline value

The current guideline value of V.O.C. Lakshmi Street is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Kovilpathagai village under the Ambattur SRO, classified as Residential Class II Type - I.

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

The guideline value for V.O.C. Lakshmi Street has undergone several revisions over the years. The 2012 revision set the value at Rs 800 per sq.ft, which was then reduced to Rs 536 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 800 per sq.ft in the 2023 revision, and currently stands at Rs 880 per sq.ft from the 2024 revision. The revisions for the years 2002, 2003, and 2007 do not have any figures recorded for this street.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows a slight increase of 10% in the guideline value.

Guideline values in Kovilpathagai

Kovilpathagai village has a total of 278 streets under the Ambattur SRO, with guideline values ranging from Rs 803 to Rs 2,900 per sq.ft. The median guideline value for these streets is Rs 870 per sq.ft, placing V.O.C. Lakshmi Street's 2024 figure above this median.

• West Mada Street: Rs 880 per sq.ft (2024)
• Yadavaar Street: Rs 880 per sq.ft (2024)
• Yogalakshmi Nagar: Rs 807 per sq.ft (2024)
• Yogam Avenue: Rs 807 per sq.ft (2024)
• Veppangulam Street: Rs 880 per sq.ft (2024)
• Venkatraman Street: Rs 880 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, making the total fees together Rs 79,200. It is important to note that the 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 details.

Which Sub Registrar Office covers V.O.C. Lakshmi Street?

The Sub Registrar Office covering V.O.C. Lakshmi Street is the Ambattur Sub Registrar Office. The address is Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Kovilpathagai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process.

When a property is bought or sold, the guideline value helps ensure that the transaction is recorded accurately and fairly in the official records, reflecting the value of the property as determined by the local authorities.

Frequently asked questions

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

The current guideline value of V.O.C. Lakshmi Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then increased to Rs 800 per sq.ft in 2023, and is currently Rs 880 per sq.ft in 2024.

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

V.O.C. Lakshmi Street is classified as Residential Class II Type - I.

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

The Sub Registrar Office for V.O.C. Lakshmi Street is 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 Kovilpathagai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 at a rate of 7%.