Guideline Value for V.O.C. Street

V.O.C. Street guideline value

The current guideline value of V.O.C. Street in Nemilicherry village, under the Pallavaram SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class I Type - III.

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

The guideline value for V.O.C. Street has undergone several revisions since 2007. In 2007, the value was Rs 400 per sq.ft, which increased significantly to Rs 2,200 per sq.ft in 2012. However, the value decreased to Rs 1,474 per sq.ft in 2017, before rising to Rs 2,000 per sq.ft in 2023. The most recent revision in 2024 saw the guideline value increase to Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 450%.

Guideline values in Nemilicherry

Nemilicherry village has a total of 172 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,160 per sq.ft, placing V.O.C. Street's 2024 figure above this median.

• Visweswaran Back Street: Rs 2,160 per sq.ft (2024)
• Yamuna Street: Rs 2,160 per sq.ft (2024)
• Vigneshwara Nagar: Rs 2,200 per sq.ft (2024)
• Vempuliamman Nagar: Rs 2,200 per sq.ft (2024)
• Veerasidhi Vinayaga Koil Street: Rs 2,420 per sq.ft (2024)
• Vanchinathan Street: Rs 2,160 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 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. Please note that the duty is charged on the higher of the guideline value and 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?

The Sub Registrar Office covering V.O.C. Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Nemilicherry. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a buyer or seller approaches the registration office, the guideline value ensures that the transaction is recorded at a fair price, helping to maintain transparency in property dealings. This value is essential for calculating the taxes owed during the registration process.

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 2,200 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 2,200 per sq.ft in 2012, then decreased to Rs 1,474 per sq.ft in 2017, and increased to Rs 2,000 per sq.ft in 2023, finally reaching Rs 2,200 per sq.ft in 2024.

What is the median guideline value for streets in Nemilicherry?

The median guideline value for streets in Nemilicherry is Rs 2,160 per sq.ft, with V.O.C. Street's current value being above this median.

What are the stamp duty and registration fees for a property on V.O.C. Street?

For a 1,000 sq.ft property on V.O.C. Street, the total guideline value is Rs 22,00,000, resulting in a stamp duty of Rs 1,54,000 and a registration fee of Rs 44,000, totaling Rs 1,98,000.

Where is the Sub Registrar Office for V.O.C. Street located?

The Pallavaram Sub Registrar Office, which covers V.O.C. Street, is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.