Guideline Value for V.O.C. NAGAR / STREET

V.O.C. Nagar / Street guideline value

The current guideline value of V.O.C. Nagar / Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

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

In the 2012 revision, the guideline value was Rs 1,500 per sq.ft. This figure remained unchanged in the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 1,650 per sq.ft, marking a 10% increase from the previous year. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

There are no figures available for the revisions in 2002, 2003, 2007, and 2017 for V.O.C. Nagar / Street. The only revisions with figures are from 2012, 2023, and 2024.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is the same as the 2024 figure for V.O.C. Nagar / Street.

• V.O.C Cross Street: Rs 1,320 per sq.ft (2024)
• Vpg Avenue / Extn 2nd Street: Rs 1,110 per sq.ft (2024)
• V.P.J. Nagar: Rs 1,320 per sq.ft (2024)
• Viyasar Street: Rs 1,650 per sq.ft (2024)
• Vyasar Cross Street: Rs 1,110 per sq.ft (2024)
• Vivekanandha 4th Cross Street: Rs 1,110 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers V.O.C. Nagar / Street?

The Sub Registrar Office covering V.O.C. Nagar / Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Pallikaranai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When a property is sold, the buyer and seller must consider the guideline value to ensure compliance with legal requirements. The higher of the guideline value or the sale price will be used to calculate the applicable stamp duty and registration fees during the registration process.

Frequently asked questions

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

The current guideline value of V.O.C. Nagar / Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,650 per sq.ft in 2024, reflecting a 10% increase overall. There were no changes recorded for the years 2002, 2003, 2007, and 2017.

What are the guideline values of other streets in Pallikaranai?

Other streets in Pallikaranai have varying guideline values, with rates ranging from Rs 1,110 to Rs 8,580 per sq.ft. V.O.C. Nagar / Street's 2024 value matches the median of Rs 1,650 per sq.ft.

What is the stamp duty rate for property in V.O.C. Nagar / Street?

The stamp duty rate for property in V.O.C. Nagar / Street is 7%. This is calculated based on the higher of the guideline value or the sale price.

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

The Sub Registrar Office for V.O.C. Nagar / Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.