Guideline Value for V.O.C. STREET

V.O.C. Street guideline value

The current guideline value of V.O.C. Street in Chitthalapakkam village is Rs 2,900 per sq.ft, effective from 1 July 2024. This street falls under the Selaiyur SRO and is classified as Industries Type - I.

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

Over the years, the guideline value of V.O.C. Street has seen several revisions. The 2012 revision set the value at Rs 2,700 per sq.ft, which was later reduced to Rs 1,809 per sq.ft in the 2017 revision. However, the value significantly increased to Rs 2,700 per sq.ft in the 2023 revision, and the latest revision in 2024 has raised it further to Rs 2,900 per sq.ft. The register has no figure for the years 2002, 2003, and 2007.

From the 2017 to 2023 revision, there was a notable increase of 49%. The change from 2023 to 2024 represents a 7% increase. Overall, comparing the 2012 revision to the 2024 revision, there has been a 7% increase in the guideline value.

Guideline values in Chitthalapakkam

In Chitthalapakkam, there are 107 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 5,000 per sq.ft, with a median value of Rs 2,900 per sq.ft. V.O.C. Street's 2024 figure aligns with this median.

• Vivekandar Nagar Extension: Rs 3,300 per sq.ft (2024)
• Vivekandar Nagar: Rs 3,300 per sq.ft (2024)
• Wood Row Manor Street: Rs 3,300 per sq.ft (2024)
• V.I.P Avenue Extension: Rs 2,900 per sq.ft (2024)
• V.I.P. Avenue: Rs 2,900 per sq.ft (2024)
• Vinoba Nagar: Rs 2,700 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 2,900 per sq.ft, the guideline value amounts to Rs 29,00,000. The stamp duty at 7% would be Rs 2,03,000, and the registration fee at 2% would be Rs 58,000, making the total Rs 2,61,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office covering V.O.C. Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Chitthalapakkam. It serves as a benchmark for determining the minimum value at which properties can be sold or purchased, ensuring transparency in transactions.

When buying or selling property, the guideline value is used to calculate applicable stamp duty and registration fees. This ensures that all transactions are conducted fairly and in accordance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of V.O.C. Street?

The current guideline value of V.O.C. Street is Rs 2,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,700 per sq.ft in 2023 to Rs 2,900 per sq.ft in 2024. It was Rs 1,809 per sq.ft in 2017 and Rs 2,700 per sq.ft in 2012.

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

V.O.C. Street is classified as Industries Type - I, indicating its suitability for industrial purposes.

What is the stamp duty rate for property in V.O.C. Street?

The stamp duty rate for property transactions in V.O.C. Street is 7% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for V.O.C. Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.