Guideline Value for V.O.C. STREET

V.O.C. Street guideline value

The current guideline value of V.O.C. Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village, under the Thiyagaraya nagar SRO, and is classified as 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 seen significant changes over the years. In the 2002 revision, the value was Rs 1,046 per sq.ft. This increased to Rs 1,161 per sq.ft in 2003, marking an increase of 11%. The value further rose to Rs 2,000 per sq.ft in 2007, reflecting a substantial increase of 72%. However, in the 2012 revision, the value dropped to Rs 6,000 per sq.ft, a decrease of 33%. The value then increased to Rs 4,020 per sq.ft in 2017, showing a rise of 49% from the previous revision. The most recent revision in 2023 set the value at Rs 6,000 per sq.ft, before the current rate of Rs 6,600 per sq.ft was established in 2024, representing a 10% increase.

There are no figures available for V.O.C. Street for the years 2012 and 2023, as the register does not provide specific values for these years. Overall, from 2002 to 2024, the guideline value has increased by 531%.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value, ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median guideline value for these streets is Rs 11,000 per sq.ft, placing V.O.C. Street's 2024 figure below that median.

• Vivekanandan Street: Rs 11,000 per sq.ft (2024)
• Yogambal Street: Rs 13,200 per sq.ft (2024)
• Vijayaraghavachari Road Ist Street: Rs 13,200 per sq.ft (2024)
• Vijayaraghava Chari Road: Rs 17,600 per sq.ft (2024)
• Vidyodaya Main Road: Rs 11,000 per sq.ft (2024)
• Vidyodaya Ist Cross Street: Rs 11,000 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 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000. Together, the total cost would be Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your own fees using 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 Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property transactions in Tnagar. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the registration fees and taxes are calculated accordingly.

When buying or selling property, the guideline value helps in establishing the official value of the property for legal and taxation purposes. It is crucial for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

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 6,600 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 1,046 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, representing an overall increase of 531%.

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

For a 1,000 sq.ft plot at the current guideline value, the total guideline value would be Rs 66,00,000, with stamp duty at Rs 4,62,000 and registration fee at Rs 1,32,000, totaling Rs 5,94,000.

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

The Thiyagaraya nagar Sub Registrar Office covers V.O.C. Street, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum value for property registration, which affects the calculation of registration fees and taxes. It is essential for both buyers and sellers to understand the guideline value for accurate transactions.