Guideline Value for V.O.C. STREET

V.O.C. Street guideline value

The current guideline value of V.O.C. Street is Rs 3,520 per sq.ft, effective from 1 July 2024. This street is located in Ekkaduthangal village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class III Type - I.

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

The guideline value for V.O.C. Street has undergone several revisions over the years. In 2002, the guideline value was Rs 420 per sq.ft. This increased to Rs 485 per sq.ft in 2003, marking a 15% rise. The value then saw a significant jump to Rs 1,000 per sq.ft in 2007, which was a 106% increase. By 2012, the value adjusted to Rs 3,200 per sq.ft, reflecting a substantial 220% increase from the previous revision. In 2017, the value decreased to Rs 2,144 per sq.ft, showing a decline of 33%. The next revision in 2023 set the value at Rs 3,200 per sq.ft, which remained unchanged until the latest revision in 2024, where it increased to Rs 3,520 per sq.ft, representing a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 738%. There are no other years with figures listed for this street in the register.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 3,080 to Rs 8,800 per sq.ft, with a median value of Rs 4,620 per sq.ft. V.O.C. Street's 2024 guideline value is below this median.

• V.V. Koil Street: Rs 3,520 per sq.ft (2024)
• Vivekananda Street: Rs 3,520 per sq.ft (2024)
• West First Bungalow Street: Rs 4,620 per sq.ft (2024)
• West Side Main Road: Rs 4,620 per sq.ft (2024)
• Visalatchi Nagar 3rd Street: Rs 6,610 per sq.ft (2024)
• Visalatchi Nagar 2nd Street: Rs 6,610 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 guideline value of Rs 3,520 per sq.ft, the total guideline value would be Rs 35,20,000. The stamp duty at 7% would amount to Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total cost to Rs 3,16,800. 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. Street?

The Sub Registrar Office that covers V.O.C. Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ekkaduthangal. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is recorded at a fair value as determined by the government.

When a property is sold, the guideline value helps in assessing the appropriate taxes that need to be paid. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration requirements and avoid any legal issues.

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 3,520 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 420 per sq.ft in 2002 to Rs 3,520 per sq.ft in 2024, reflecting an overall increase of 738%.

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

For a 1,000 sq.ft property, the total guideline value would be Rs 35,20,000, with stamp duty at Rs 2,46,400 and registration fees at Rs 70,400, totaling Rs 3,16,800.

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

The Chennai South Joint I Sub Registrar Office covers V.O.C. Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

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

The land classification for V.O.C. Street is Residential Class III Type - I, indicating its suitability for residential development.