Guideline Value for V.O.C. St ( Ward No.16 )

V.O.C. St ( Ward No.16 ) guideline value

The current guideline value of V.O.C. St ( Ward No.16 ) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of V.O.C. St ( Ward No.16 ) has changed

The guideline value for V.O.C. St ( Ward No.16 ) has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,600 per sq.ft, which is an increase of 7% from the 2023 revision of Rs 1,500 per sq.ft. Prior to 2023, the value remained unchanged since 2012, which also recorded Rs 1,500 per sq.ft. The register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Overall, from 2012 to 2024, the guideline value increased by 7%. The 2024 figure aligns with the median guideline value of Rs 1,600 per sq.ft for 1946 streets in Madhavaram under the Madhavaram SRO, which range from Rs 1,300 to Rs 7,500 per sq.ft.

Guideline values in Madhavaram

In Madhavaram, the guideline values vary significantly across different streets. The current guideline value of V.O.C. St ( Ward No.16 ) is equal to the median value for the village. Here are some of the other streets in Madhavaram:

• V.O.C. St (Ward-27): Rs 1,600 per sq.ft (2024)
• V.O.C. St ( Ward No.17 ): Rs 1,600 per sq.ft (2024)
• V.O.C. St (Ward-17): Rs 1,600 per sq.ft (2024)
• V.O.C. St ( Ward No.21 ): Rs 1,600 per sq.ft (2024)
• V.O.C. St (Ward-02): Rs 1,600 per sq.ft (2024)
• V.O.C. St ( Ward No.27 ): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in V.O.C. St ( Ward No.16 )

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers V.O.C. St ( Ward No.16 )?

The Sub Registrar Office that covers V.O.C. St ( Ward No.16 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Madhavaram. It is used to determine the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers should be aware that the guideline value serves as a benchmark for these calculations.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value of V.O.C. St ( Ward No.16 )?

The current guideline value of V.O.C. St ( Ward No.16 ) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2023 to Rs 1,600 per sq.ft in 2024, which is a 7% increase. The value remained unchanged from 2012 to 2023.

What is the land classification for V.O.C. St ( Ward No.16 )?

V.O.C. St ( Ward No.16 ) is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for V.O.C. St ( Ward No.16 )?

The Sub Registrar Office for V.O.C. St ( Ward No.16 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in V.O.C. St ( Ward No.16 )?

The stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 16,00,000, the stamp duty at 7% would be Rs 1,12,000.