Guideline Value for V.O.C. Street(Jayaram nagar)

V.O.C. Street(Jayaram nagar) guideline value

The current guideline value of V.O.C. Street(Jayaram nagar) is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Ayappakkam village and falls under the Ambattur SRO. The land classification for this area is Residential Class I Type - II.

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

The guideline value of V.O.C. Street(Jayaram nagar) has seen several revisions over the years. In 2007, the guideline value was Rs 400 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012. However, it decreased to Rs 670 per sq.ft in 2017. The value then rose to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,100 per sq.ft from the 2024 revision. The changes between these revisions include a +150% increase from 2007 to 2012, a -33% decrease from 2012 to 2017, a +49% increase from 2017 to 2023, and a +10% increase from 2023 to 2024.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by +175%.

Guideline values in Ayappakkam

Ayappakkam village has a total of 221 streets under the Ambattur SRO, with guideline values ranging from Rs 550 to Rs 4,000 per sq.ft as of 2024. The median guideline value for these streets is Rs 1,300 per sq.ft, placing the 2024 guideline value of V.O.C. Street(Jayaram nagar) below this median.

• V.O.C. Street (Iyappa nagar): Rs 1,700 per sq.ft (2024)
• V.O.C. nagar 2nd street: Rs 1,100 per sq.ft (2024)
• V.O.C.nagar 1st street: Rs 1,100 per sq.ft (2024)
• V.V. Nagar: Rs 880 per sq.ft (2024)
• V.O.C. Nagar: Rs 1,100 per sq.ft (2024)
• V.O.C. Cross Street (Jayaram nagar): Rs 1,100 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total cost for these fees Rs 99,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers V.O.C. Street(Jayaram nagar)?

The Sub Registrar Office that covers V.O.C. Street(Jayaram nagar) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Ayappakkam. It serves as a benchmark for determining the minimum price at which a property can be sold, ensuring that transactions are recorded at a fair value. When registering a property, the guideline value helps in calculating the stamp duty and registration fees that need to be paid.

Additionally, the guideline value is updated periodically to reflect changes in the real estate market. Buyers and sellers should be aware of these updates as they can impact the overall cost of property transactions. It is advisable to check the latest guideline values before proceeding with any property deals.

Frequently asked questions

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

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of +175% over the years.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, for a property valued at Rs 11,00,000, the total fees would amount to Rs 99,000.

Which office handles registrations for V.O.C. Street(Jayaram nagar)?

The Ambattur Sub Registrar Office is responsible for handling registrations for V.O.C. Street(Jayaram nagar), located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the significance of guideline value in property transactions?

The guideline value serves as a benchmark for property transactions, determining the minimum price for sales and helping calculate the applicable stamp duty and registration fees. It is essential for both buyers and sellers to be aware of the guideline value when engaging in property transactions.