Guideline Value for V.O.C. Nagar

V.O.C. Nagar guideline value

The current guideline value of V.O.C. Nagar, located in Chikkarayapuram village under the Kunrathur SRO, is Rs 1,980 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Special Type - I.

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

The guideline value for V.O.C. Nagar has seen significant changes over the years. In 2003, the guideline value was Rs 43 per sq.ft, which increased to Rs 300 per sq.ft in 2007. The value then rose dramatically to Rs 1,400 per sq.ft in 2012, before dropping to Rs 938 per sq.ft in 2017. Following this, the value saw a considerable increase to Rs 1,800 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 1,980 per sq.ft. Notably, there is no figure for the year 2002 in the register for this street.

From 2017 to 2023, the guideline value increased by 92%, and from 2023 to 2024, it rose by 10%. The overall increase from 2003 to 2024 is a remarkable 4505%, showcasing the changes in property valuation over the years.

Guideline values in Chikkarayapuram

In Chikkarayapuram, there are 61 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,430 to Rs 2,800 per sq.ft. The median guideline value for these streets is Rs 1,980 per sq.ft, which is the same as the current value for V.O.C. Nagar.

• V.O.C. Nagar Annexe: Rs 1,980 per sq.ft (2024)
• VLC REHOBOTH NAGAR known as BRINDHAVANAM GARDEN: Rs 2,090 per sq.ft (2024)
• Thillai Nataraja Nagar: Rs 1,760 per sq.ft (2024)
• Thangam Avenue Phase II: Rs 1,760 per sq.ft (2024)
• Sushilammal Nagar: Rs 1,980 per sq.ft (2024)
• Sunder Avenue Annexe: Rs 1,760 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 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers V.O.C. Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Chikkarayapuram. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is compliant with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value as it directly affects the financial aspects of property transactions. Understanding the guideline value helps in making informed decisions during the registration process.

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 1,980 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 43 per sq.ft in 2003 to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of 4505% over these years.

What is the median guideline value in Chikkarayapuram?

The median guideline value for the streets in Chikkarayapuram is Rs 1,980 per sq.ft, which is the same as the current value for V.O.C. Nagar.

What are the stamp duty and registration fees for a property in V.O.C. Nagar?

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Where is the Sub Registrar Office for V.O.C. Nagar located?

The Sub Registrar Office for V.O.C. Nagar is located at No.59, Road Street, Kundrathur, Chennai -600 069.