Guideline Value for V.O.C. St ( Ward No.17 )

V.O.C. St ( Ward No.17 ) guideline value

The current guideline value for V.O.C. St ( Ward No.17 ) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class II Type - I.

How the guideline value of V.O.C. St ( Ward No.17 ) has changed

Over the years, the guideline value for V.O.C. St ( Ward No.17 ) has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in the 2017 revision. In the 2023 revision, the value increased to Rs 1,500 per sq.ft, and currently, the 2024 revision has raised it to Rs 1,600 per sq.ft. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%, while the value increased by 49% from 2017 to 2023. The overall change from 2012 to 2024 is an increase of 7%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO carrying a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, which is the same as the current value for V.O.C. St ( Ward No.17 ).

• V.O.C. St ( Ward No.16 ): 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-27): Rs 1,600 per sq.ft (2024)
• V.O.C. St ( Ward No.27 ): Rs 1,600 per sq.ft (2024)
• V.O.C. St (Ward-02): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in V.O.C. St ( Ward No.17 )

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees to Rs 1,44,000. 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. St ( Ward No.17 )?

The Sub Registrar Office covering V.O.C. St ( Ward No.17 ) 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 crucial factor in the registration process when buying or selling property in Madhavaram. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from the transaction.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is conducted fairly and transparently.

Frequently asked questions

What is the current guideline value for V.O.C. St ( Ward No.17 )?

The current guideline value for V.O.C. St ( Ward No.17 ) 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 2012 to Rs 1,600 per sq.ft in 2024, with fluctuations in between including a drop to Rs 1,005 per sq.ft in 2017 and an increase to Rs 1,500 per sq.ft in 2023.

What is the land classification for V.O.C. St ( Ward No.17 )?

V.O.C. St ( Ward No.17 ) is classified as Residential Class II Type - I.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or sale price, whichever is higher. For example, for a property valued at Rs 16,00,000, the total fees would include a stamp duty of Rs 1,12,000 and a registration fee of Rs 32,000.