Guideline Value for V.O.C. NAGAR

V.O.C. Nagar guideline value

The current guideline value of V.O.C. Nagar, located in Okkiyamthuraipakkam village under the Neelankarai SRO, is Rs 3,900 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - II land classification.

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

The guideline value for V.O.C. Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which was a decrease of 33% from the previous figure of Rs 2,345 per sq.ft in 2017. The value remained at Rs 3,500 per sq.ft until the 2023 revision, which increased it to Rs 3,900 per sq.ft, marking an 11% rise.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the current 2024 figure, there has been an increase of 11%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 3,300 per sq.ft, making the current value of V.O.C. Nagar above this median.

• V.O.C. Street: Rs 4,400 per sq.ft (2024)
• Vivekanandhar Salai: Rs 4,400 per sq.ft (2024)
• V.P.G Avenue 1 St Street: Rs 3,900 per sq.ft (2024)
• V.P.G Avenue 2 Nd Street: Rs 3,900 per sq.ft (2024)
• V.P.G Avenue 3 Rd Street: Rs 3,900 per sq.ft (2024)
• V.P.G.Avenue 4th Street: Rs 3,900 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total fees to Rs 3,51,000. 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 on fees applicable to your property transaction.

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

The Sub Registrar Office that covers V.O.C. Nagar is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Okkiyamthuraipakkam. It is used to determine the stamp duty and registration fees that buyers need to pay when purchasing property. The guideline value is set by the Registration Department and reflects the value of the property based on various factors.

When selling property, the guideline value is also significant as it helps in establishing the legal value of the property for registration purposes. Buyers and sellers must be aware of the guideline value to ensure compliance with the registration process and to understand the financial implications of property transactions.

Frequently asked questions

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

The current guideline value of V.O.C. Nagar is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase from Rs 3,500 per sq.ft in 2023 to Rs 3,900 per sq.ft in 2024, a rise of 11%. The value was Rs 2,345 per sq.ft in 2017 and Rs 3,500 per sq.ft in 2012.

What is the stamp duty rate for properties in V.O.C. Nagar?

The stamp duty rate for properties in V.O.C. Nagar is 7% of the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office for V.O.C. Nagar is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the median guideline value in Okkiyamthuraipakkam?

The median guideline value in Okkiyamthuraipakkam is Rs 3,300 per sq.ft, with V.O.C. Nagar's current value being above this median at Rs 3,900 per sq.ft.