Guideline Value for V.O.C. Street

V.O.C. Street guideline value

The current guideline value of V.O.C. Street in Agaramthen village is Rs 830 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - II.

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

The guideline value for V.O.C. Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 830 per sq.ft, an increase from Rs 750 per sq.ft in the 2023 revision. Prior to that, the value was Rs 502 per sq.ft in 2017 and Rs 750 per sq.ft in 2012. The register has no figure for this street in the years 2002, 2003, and 2007.

Examining the changes, the guideline value increased by 11% from 2023 to 2024. From 2017 to 2023, there was a significant increase of 49%. However, the value decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 11%.

Guideline values in Agaramthen

Agaramthen village has a total of 125 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 3,700 per sq.ft. The median guideline value for these streets is Rs 830 per sq.ft, which is equal to the current guideline value of V.O.C. Street.

• Victory Farm Land: Rs 550 per sq.ft (2024)
• Vgk Green City Phase-II: Rs 1,770 per sq.ft (2024)
• Vgk Green City: Rs 1,770 per sq.ft (2024)
• Veeramamunivar Street: Rs 830 per sq.ft (2024)
• Valmiki Street: Rs 830 per sq.ft (2024)
• Vallalar Street: Rs 830 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 830 per sq.ft, the total guideline value would be Rs 8,30,000. The stamp duty at 7% would amount to Rs 58,100, and the registration fee at 2% would be Rs 16,600, totaling Rs 74,700. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office covering V.O.C. Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Agaramthen. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented accurately and fairly.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. 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 830 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2023 to Rs 830 per sq.ft in 2024, and from Rs 502 per sq.ft in 2017. It has also seen a decrease from Rs 750 per sq.ft in 2012 to Rs 502 per sq.ft in 2017.

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

Other streets in Agaramthen include Victory Farm Land at Rs 550 per sq.ft, Vgk Green City and Vgk Green City Phase-II at Rs 1,770 per sq.ft, and Veeramamunivar Street, Valmiki Street, and Vallalar Street all at Rs 830 per sq.ft.

What fees are associated with buying property on V.O.C. Street?

When buying property on V.O.C. Street, buyers must pay a stamp duty of 7% and a registration fee of 2% on the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office for V.O.C. Street is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Tambaram Joint 1 SRO.