Guideline Value for V.O.C. STREET

V.O.C. Street guideline value

The current guideline value of V.O.C. Street in Chinnasekkadu village, under the Thiruvottiyur SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

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 157 per sq.ft, which increased to Rs 182 per sq.ft in 2003, marking a 16% rise. The value saw a significant jump to Rs 500 per sq.ft in 2007, representing a 175% increase. Following this, it rose to Rs 1,200 per sq.ft in 2012, reflecting a 140% increase. However, there was a decrease to Rs 804 per sq.ft in 2017, which was a decline of 33%. The value then increased to Rs 1,200 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 1,300 per sq.ft, showing an 8% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 728%. There are no figures available for the revisions in years other than those specified.

Guideline values in Chinnasekkadu

In Chinnasekkadu village, there are 49 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 2,200 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value for V.O.C. Street is above this median.

• Vedhagiri Pillai Street: Rs 1,100 per sq.ft (2024)
• Vedhachalam Street: Rs 1,001 per sq.ft (2024)
• Vallivel Nadar Street: Rs 1,001 per sq.ft (2024)
• Thiru.VI.Ka Street: Rs 1,300 per sq.ft (2024)
• Thiruvengadam Street: Rs 1,001 per sq.ft (2024)
• Thiruvalluvar Street: Rs 1,500 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 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. 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 more details.

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

The V.O.C. Street is covered by the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. To find your SRO, visit find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Chinnasekkadu. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value. This value is used to calculate the necessary fees, which must be paid at the time of registration to the Sub Registrar Office.

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 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 157 per sq.ft in 2002 to Rs 1,300 per sq.ft in 2024, with various increases and one decrease over the years.

What is the registration office for V.O.C. Street?

The registration office for V.O.C. Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

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

Stamp duty for properties in V.O.C. Street is calculated based on the guideline value or the sale price, whichever is higher. The current rate is 7% for stamp duty.

What are the other streets in Chinnasekkadu with their guideline values?

Other streets in Chinnasekkadu include Vedhagiri Pillai Street at Rs 1,100 per sq.ft, Vedhachalam Street at Rs 1,001 per sq.ft, and Thiruvalluvar Street at Rs 1,500 per sq.ft, among others.