Guideline Value for V.O.C. Street

V.O.C. Street guideline value

The current guideline value of V.O.C. Street in Gooduvancheri village is Rs 2,001 per sq.ft, effective from 1 July 2024. This street falls under the Gooduvancheri SRO and is classified as Residential Special Type - II.

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

The guideline value for V.O.C. Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,001 per sq.ft, which is a slight increase from Rs 2,000 per sq.ft in the 2023 revision. Prior to that, the 2017 revision recorded a value of Rs 1,340 per sq.ft. There are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%, and the overall change from 2017 to 2024 is also +49%. The consistency in the 2023 to 2024 revision shows no change, maintaining the value at Rs 2,001 per sq.ft.

Guideline values in Gooduvancheri

In Gooduvancheri, there are 129 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 3,500 per sq.ft, with a median value of Rs 1,500 per sq.ft. V.O.C. Street's 2024 guideline value is above this median.

• Vivekanandar Avenue: Rs 1,500 per sq.ft (2024)
• Visveswaran Iyer Street: Rs 1,500 per sq.ft (2024)
• Venugopal Naidu Street: Rs 2,001 per sq.ft (2024)
• Vedhathiri Colony: Rs 2,001 per sq.ft (2024)
• Unnamalai Nagar: Rs 1,200 per sq.ft (2024)
• Thulakathaman kovil street: Rs 1,500 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,001 per sq.ft, the total guideline value would be Rs 20,01,000. The stamp duty at 7% would amount to Rs 1,40,070, while the registration fee at 2% would be Rs 40,020. Together, the total cost for stamp duty and registration would be Rs 1,80,090. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers V.O.C. Street is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Gooduvancheri. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

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

The current guideline value of V.O.C. Street is Rs 2,001 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,340 per sq.ft in 2017 to Rs 2,001 per sq.ft in 2024, reflecting a 49% increase over this period.

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

V.O.C. Street is classified as Residential Special Type - II.

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

The registration office for V.O.C. Street is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 20,01,000 would incur a stamp duty of Rs 1,40,070 at 7%.