Guideline Value for V.O.C. Street (V.O.C) (JPT)

V.O.C. Street (V.O.C) (JPT) guideline value

The current guideline value for V.O.C. Street (V.O.C) (JPT) in Kodambakkam village is Rs 4,100 per sq.ft, effective from 1 July 2024. This property falls under the Ashok Nagar SRO and is classified as Residential Class IV Type - I.

How the guideline value of V.O.C. Street (V.O.C) (JPT) has changed

The guideline value for V.O.C. Street (V.O.C) (JPT) has seen several revisions over the years. The 2007 revision set the value at Rs 800 per sq.ft, which increased significantly to Rs 3,750 per sq.ft in the 2012 revision. This figure remained unchanged through the 2023 revision, but the 2024 revision has increased it to Rs 4,100 per sq.ft, marking a 9% rise from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 413%. Notably, there are no figures available for the years 2002, 2003, and 2017 in the register for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO with a 2024 guideline value range from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, indicating that the guideline value for V.O.C. Street (V.O.C) (JPT) is below this median.

• V.O.C. Street (M.G.R. Nagar): Rs 3,300 per sq.ft (2024)
• V.O.C. Street Block 87: Rs 4,100 per sq.ft (2024)
• V.P. Akilan Street: Rs 3,300 per sq.ft (2024)
• V.P. Arunachalam Street (Nesapakkam): Rs 2,200 per sq.ft (2024)
• V.V. Giri Street: Rs 3,300 per sq.ft (2024)
• VOC Block 5th Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in V.O.C. Street (V.O.C) (JPT)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,100 per sq.ft, the total guideline value would be Rs 41,00,000. The stamp duty at 7% would amount to Rs 2,87,000, and the registration fee at 2% would be Rs 82,000, bringing the total fees to Rs 3,69,000. 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 (V.O.C) (JPT)?

The V.O.C. Street (V.O.C) (JPT) is covered by the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur EB Office. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering a property in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When a property is sold, the buyer must pay the stamp duty based on the higher value between the guideline value and the actual sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of V.O.C. Street (V.O.C) (JPT)?

The current guideline value of V.O.C. Street (V.O.C) (JPT) is Rs 4,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 800 per sq.ft in 2007 to Rs 4,100 per sq.ft in 2024, marking an overall increase of 413% over this period.

What is the land classification for V.O.C. Street (V.O.C) (JPT)?

V.O.C. Street (V.O.C) (JPT) is classified as Residential Class IV Type - I.

Where can I find the registration office for V.O.C. Street (V.O.C) (JPT)?

The registration office covering V.O.C. Street (V.O.C) (JPT) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

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

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 41,00,000, the stamp duty would be Rs 2,87,000.