Guideline Value for V.O.C. Nagar

V.O.C. Nagar guideline value

The current guideline value of V.O.C. Nagar is Rs 505 per sq.ft, effective from 1 July 2024. This area is located in Orathur village, under the Gooduvancheri Sub Registrar Office (SRO), and is classified as Residential Special Type - III.

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

Over the years, the guideline value of V.O.C. Nagar has seen significant changes. The 2007 revision set the value at Rs 160 per sq.ft, which increased to Rs 500 per sq.ft in 2012, a rise of 213%. However, the value dropped to Rs 335 per sq.ft in 2017, marking a decrease of 33%. The most recent revisions show that the value increased to Rs 500 per sq.ft in 2023 and further to Rs 505 per sq.ft in 2024, reflecting a 1% increase.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 216%, demonstrating a steady rise in the value over the years.

Guideline values in Orathur

In Orathur, there are 80 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 335 to Rs 1,700 per sq.ft. The median guideline value for these streets is Rs 500 per sq.ft, placing V.O.C. Nagar's 2024 figure above this median.

• Yathvik Township: Rs 469 per sq.ft (2024)
• Vinayaga Nagar Part-II: Rs 500 per sq.ft (2024)
• Vinayaga Nagar: Rs 505 per sq.ft (2024)
• Vijaya Nagar: Rs 505 per sq.ft (2024)
• Vignesh Garden Extension-I: Rs 700 per sq.ft (2024)
• Vignesh Garden Extension: Rs 700 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 505 per sq.ft, the total guideline value would be Rs 5,05,000. The stamp duty at 7% would amount to Rs 35,350, and the registration fee at 2% would be Rs 10,100, making the total cost for these fees Rs 45,450. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for further calculations.

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

The Sub Registrar Office that covers V.O.C. Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Orathur. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction adheres to legal requirements.

It is important to note that the guideline value may differ from the actual sale price of the property. In such cases, the duty is charged on the higher of the two values, ensuring that the government receives the appropriate revenue from 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 505 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 160 per sq.ft in 2007 to Rs 505 per sq.ft in 2024, reflecting an overall increase of 216% over the years.

What is the land classification of V.O.C. Nagar?

V.O.C. Nagar is classified as Residential Special Type - III, indicating its suitability for residential development.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is the stamp duty calculated for properties in V.O.C. Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For instance, a 1,000 sq.ft plot at Rs 505 per sq.ft would incur a stamp duty of Rs 35,350.