Guideline Value for V.O.C. Street

V.O.C. Street guideline value

The current guideline value of V.O.C. Street in Zaminpallavaram village is Rs 2,100 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class IV Type - I.

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

The guideline value of V.O.C. Street has seen several revisions over the years. In 2003, the value was Rs 338 per sq.ft, which increased to Rs 600 per sq.ft in 2007, marking a significant rise of 78%. The value then surged to Rs 2,000 per sq.ft in 2012, a remarkable increase of 233%. However, in 2017, it dropped to Rs 1,340 per sq.ft, reflecting a decrease of 33%. The value then rose again to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,100 per sq.ft as of the 2024 revision, which is a 5% increase from the previous year.

It is important to note that there is no figure for V.O.C. Street in the 2002 revision. Overall, the guideline value has increased by 521% from the 2003 figure to the current 2024 figure.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are a total of 638 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, indicating that V.O.C. Street's 2024 figure is below the median.

• Vivekanada Street Extn.: Rs 2,750 per sq.ft (2024)
• Vivekanada Street: Rs 3,300 per sq.ft (2024)
• Vivekanadar Street (Near Kolappan Street): Rs 2,750 per sq.ft (2024)
• Vivekanadar Street (Near Chandrasekaran Street): Rs 2,750 per sq.ft (2024)
• Vivekanadar Street (Gandhi Nagar inside): Rs 2,750 per sq.ft (2024)
• Vivekanada Cross Street: Rs 3,300 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 2,100 per sq.ft, the total guideline value would be Rs 21,00,000. The stamp duty at 7% would be Rs 1,47,000, and the registration fee at 2% would be Rs 42,000, bringing the total to Rs 1,89,000. 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?

The V.O.C. Street falls under 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 details.

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

The guideline value plays a crucial role in property transactions in Zaminpallavaram. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The guideline value is set by the Registration Department and is revised periodically to reflect changes in the market.

When you register a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. 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?

The current guideline value of V.O.C. Street is Rs 2,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 338 per sq.ft in 2003 to Rs 2,100 per sq.ft in 2024, reflecting an overall increase of 521%.

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

V.O.C. Street is classified as Residential Class IV Type - I under the guideline value register.

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

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

How is stamp duty calculated for properties in V.O.C. Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 21,00,000, the stamp duty would be Rs 1,47,000 at 7%.