Guideline Value for V.O.C. Street

V.O.C. Street guideline value

The current guideline value of V.O.C. Street in Peerklankaranai village is Rs 1,650 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 seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged in the 2017 revision, where it dropped to Rs 1,005 per sq.ft. However, the value increased significantly in the 2023 revision to Rs 1,500 per sq.ft, and then again to Rs 1,650 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. The 2017 to 2023 revision saw a substantial increase of 49%. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 4,400 per sq.ft. The median value is Rs 1,650 per sq.ft, which is equal to the current guideline value of V.O.C. Street.

• V.O.C. Street 1st cross street: Rs 1,320 per sq.ft (2024)
• V.O.C. Street 2st cross street: Rs 1,320 per sq.ft (2024)
• V.O.C. Street 3st cross street: Rs 1,320 per sq.ft (2024)
• V.O.C. Street 4st cross street: Rs 1,320 per sq.ft (2024)
• V.O.C. Street From Kattapomman St to tha end: Rs 1,980 per sq.ft (2024)
• V.O.C. Street From Peraringar Anna Poonga to Kattapomman st: Rs 2,200 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 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more accurate calculations based on your specific property details.

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

The V.O.C. Street is covered by 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 Peerklankaranai

The guideline value plays a crucial role when buying or selling property in Peerklankaranai. It serves as a benchmark for determining the minimum value at which a property can be registered. Both buyers and sellers must consider this value when negotiating sale prices and preparing for registration.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

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 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 10%. Notably, there was a significant increase of 49% from 2017 to 2023.

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

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500, and the registration fee would be Rs 33,000, totaling Rs 1,48,500. These fees are calculated based on the guideline value or the sale price, whichever is higher.

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

The Tambaram Joint 1 Sub Registrar Office covers V.O.C. Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.

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

V.O.C. Street is classified as Residential Class I Type - II, indicating its suitability for residential purposes.