Guideline Value for V.O.C. Nagar

V.O.C. Nagar guideline value

The current guideline value of V.O.C. Nagar is Rs 1,900 per sq.ft, effective from 1 July 2024. This area is located in Thiruvottiyur village under the Thiruvottiyur SRO, classified as Residential Class I Type - III.

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

The guideline value for V.O.C. Nagar has undergone several revisions over the years. The 2007 revision set the value at Rs 500 per sq.ft, which increased significantly to Rs 1,800 per sq.ft in 2012. However, there was a drop to Rs 1,206 per sq.ft in the 2017 revision. The value saw a notable increase to Rs 1,800 per sq.ft in 2023, followed by the current value of Rs 1,900 per sq.ft from the 2024 revision.

From the 2017 to 2023 revision, the guideline value increased by 49%. The jump from 2012 to 2017 saw a decrease of 33%. The increase from 2007 to 2012 was substantial at 260%. Overall, from 2007 to 2024, the guideline value has risen by 280%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thiruvottiyur

In Thiruvottiyur, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 8,600 per sq.ft, with a median value of Rs 3,300 per sq.ft. V.O.C. Nagar's 2024 figure is below this median.

• Vivekanandan Street: Rs 3,700 per sq.ft (2024)
• West Kulakkarai Street: Rs 3,700 per sq.ft (2024)
• West Mada Street: Rs 3,300 per sq.ft (2024)
• Vinayagapuram: Rs 2,800 per sq.ft (2024)
• Village Street: Rs 3,700 per sq.ft (2024)
• Verkadalai Cheri: Rs 2,150 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 1,900 per sq.ft, the total guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, totaling Rs 1,71,000. 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 further assistance.

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

The Sub Registrar Office that covers V.O.C. Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Thiruvottiyur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of property ownership. Buyers should be aware of the guideline value to ensure compliance with local regulations during 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 1,900 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 500 per sq.ft in 2007 to Rs 1,900 per sq.ft in 2024, reflecting an overall increase of 280% over this period.

What is the registration fee for property in V.O.C. Nagar?

The registration fee is calculated based on the guideline value, which is currently Rs 1,900 per sq.ft. For a 1,000 sq.ft property, the registration fee would be Rs 38,000 at a rate of 2%.

Where is the Thiruvottiyur Sub Registrar Office located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

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

The stamp duty is calculated at a rate of 7% on the higher of the guideline value or the sale price. For a property valued at Rs 19,00,000, the stamp duty would be Rs 1,33,000.