Guideline Value for V.O.C. Street Block 87

V.O.C. Street Block 87 guideline value

The current guideline value of V.O.C. Street Block 87 is Rs 4,100 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO, classified as Residential Class IV Type - I.

How the guideline value of V.O.C. Street Block 87 has changed

The guideline value for V.O.C. Street Block 87 has undergone several revisions over the years. The earliest recorded revision was in 2007, where the guideline value was Rs 800 per sq.ft. This figure saw a significant increase to Rs 3,750 per sq.ft in both the 2012 and 2023 revisions. The latest revision in 2024 has set the guideline value at Rs 4,100 per sq.ft, reflecting a 9% increase 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 for this street in the register.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 4,900 per sq.ft. V.O.C. Street Block 87's 2024 figure is below this median.

• V.O.C. Street (M.G.R. Nagar): Rs 3,300 per sq.ft (2024)
• V.O.C. Street (V.O.C) (JPT): 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 Block 87

For a 1,000 sq.ft plot at the current guideline value of Rs 4,100 per sq.ft, the total guideline value amounts to Rs 41,00,000. The stamp duty at 7% would be Rs 2,87,000, and the registration fee at 2% would be Rs 82,000, bringing the total 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers V.O.C. Street Block 87?

The Sub Registrar Office that covers V.O.C. Street Block 87 is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the authorities.

When a property transaction occurs, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures transparency and uniformity in property transactions within the region.

Frequently asked questions

What is the current guideline value of V.O.C. Street Block 87?

The current guideline value of V.O.C. Street Block 87 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 the years.

What are the other streets in Kodambakkam with their guideline values?

Other streets in Kodambakkam include V.O.C. Street (M.G.R. Nagar) at Rs 3,300 per sq.ft, V.P. Akilan Street at Rs 3,300 per sq.ft, and VOC Block 5th Street at Rs 4,900 per sq.ft, among others.

What is the stamp duty rate applicable in V.O.C. Street Block 87?

The stamp duty rate applicable for property transactions in V.O.C. Street Block 87 is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for V.O.C. Street Block 87?

The Sub Registrar Office for V.O.C. Street Block 87 is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, under the Ashok Nagar registration zone.