Guideline Value for V.O.C. St ( Ward No.27 )

V.O.C. St ( Ward No.27 ) guideline value

The current guideline value for V.O.C. St ( Ward No.27 ) 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.27 ) has changed

The guideline value for V.O.C. St ( Ward No.27 ) has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in 2017. Following this, the value increased to Rs 1,500 per sq.ft in 2023, and the current value is Rs 1,600 per sq.ft from the 2024 revision. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The change from 2023 to 2024 is an increase of 7%. Overall, from 2012 to 2024, the guideline value has increased by 7%.

Guideline values in Madhavaram

Madhavaram village has a total of 1,946 streets under the Madhavaram SRO, with 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for the area is Rs 1,600 per sq.ft, which aligns with the current value for V.O.C. St ( Ward No.27 ).

• V.O.C. St ( Ward No.21 ): 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 No.16 ): 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 No.17 ): Rs 1,600 per sq.ft (2024)
• V.O.C. St ( Ward No.02 ): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in V.O.C. St ( Ward No.27 )

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 charges 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.27 )?

The Sub Registrar Office that covers V.O.C. St ( Ward No.27 ) 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 an essential factor in property transactions in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is sold or purchased.

When registering a property, the buyer must pay the applicable stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for V.O.C. St ( Ward No.27 )?

The current guideline value for V.O.C. St ( Ward No.27 ) 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 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and is currently Rs 1,600 per sq.ft in 2024.

What is the land classification for V.O.C. St ( Ward No.27 )?

V.O.C. St ( Ward No.27 ) is classified as Residential Class II Type - I.

Where can I find the Madhavaram Sub Registrar Office?

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

How is the stamp duty calculated for properties in V.O.C. St ( Ward No.27 )?

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