Guideline Value for V.O.C. STREET CROSS

V.O.C. Street Cross guideline value

The current guideline value of V.O.C. Street Cross is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Karapakkam village and falls under the Neelankarai SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of V.O.C. Street Cross has changed

The guideline value for V.O.C. Street Cross has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,000 per sq.ft, and the latest revision in 2024 has raised it to Rs 2,200 per sq.ft.

From 2017 to 2023, there was a significant increase of 49%, followed by a 10% increase from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for this street in 2002, 2003, and 2007.

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 10,700 per sq.ft, with a median value of Rs 1,700 per sq.ft. The guideline value for V.O.C. Street Cross is above this median.

• V.O.C. Street: Rs 2,200 per sq.ft (2024)
• Vethapuri Street: Rs 1,100 per sq.ft (2024)
• Vendrasi Amman Koil Street Extension: Rs 1,100 per sq.ft (2024)
• Vendrasi Amman Koil Street: Rs 1,100 per sq.ft (2024)
• VENDRASI AMMAN KOIL 1st CROSS STREET: Rs 1,100 per sq.ft (2024)
• Vembuli Street: Rs 1,100 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total fees would be Rs 1,98,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers V.O.C. Street Cross?

The V.O.C. Street Cross falls under 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 details.

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

The guideline value is a crucial factor when registering property transactions in Karapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of a property.

When a property is sold, the buyer must pay stamp duty 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. Street Cross?

The current guideline value of V.O.C. Street Cross is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for V.O.C. Street Cross?

The land classification for V.O.C. Street Cross is Residential Class II Type - II.

Where is the Neelankarai Sub Registrar Office located?

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

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

Stamp duty is calculated based on the higher of the guideline value or the sale price. For instance, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 1,98,000.