Guideline Value for V.O.C. Nagar

V.O.C. Nagar guideline value

The current guideline value of V.O.C. Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Thirumullaivoyal village under the Ambattur SRO, classified as Residential Special Type - II.

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. In 2002, the guideline value was Rs 115 per sq.ft, which increased to Rs 150 per sq.ft in 2003, marking a 30% rise. The value continued to grow significantly, reaching Rs 400 per sq.ft in 2007, a remarkable increase of 167%. By 2012, it had risen to Rs 2,500 per sq.ft, reflecting a 525% increase from the previous revision. However, the value decreased to Rs 1,675 per sq.ft in 2017, which was a decline of 33%.

In the subsequent revisions, the guideline value increased again, reaching Rs 2,500 per sq.ft in 2023, and then to Rs 2,700 per sq.ft in 2024, which is an 8% increase. Overall, from 2002 to 2024, the guideline value has increased by 2,248%.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO, with 2024 guideline values ranging from Rs 880 to Rs 5,500 per sq.ft. The median value is Rs 2,400 per sq.ft, placing V.O.C. Nagar's 2024 figure above this median.

• V.O.Chithambaram Street (Senthil Nagar): Rs 2,700 per sq.ft (2024)
• V.O.C. 4th Street: Rs 2,700 per sq.ft (2024)
• V.O.C. 3rd Street: Rs 2,700 per sq.ft (2024)
• V.O.C. 2nd Street: Rs 2,700 per sq.ft (2024)
• V.O.C. 1st Street: Rs 2,700 per sq.ft (2024)
• Vivekannanda Nagar Thamarai Street: Rs 2,700 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 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, leading to a total cost of Rs 2,43,000. Please 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 detailed calculations.

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

The Sub Registrar Office that covers V.O.C. Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thirumullaivoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property transactions.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

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 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 115 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 2,248% over the years.

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

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

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

The Sub Registrar Office for V.O.C. Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 at 7%.