Guideline Value for V.O.C. Street

V.O.C. Street guideline value

The current guideline value of V.O.C. Street in Vengambakkam village is Rs 440 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 - III.

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 2012 revision set the value at Rs 400 per sq.ft, which was then reduced to Rs 268 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 400 per sq.ft, and the current 2024 revision has further increased it to Rs 440 per sq.ft, marking a 10% rise from the previous year. Notably, there are no figures available for the revisions in the years 2002, 2003, and 2007.

From the 2012 revision to the 2024 revision, the overall change reflects a 10% increase. Specifically, the transition from 2017 to 2023 saw a significant rise of 49%, while the shift from 2012 to 2017 experienced a decrease of 33% in the guideline value.

Guideline values in Vengambakkam

In Vengambakkam, there are 88 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 440 to Rs 5,000 per sq.ft. The median guideline value in this area is Rs 770 per sq.ft, placing V.O.C. Street's 2024 figure below this median.

• Western Gate of Daniel: Rs 3,300 per sq.ft (2024)
• Victory Avenue Extn: Rs 1,320 per sq.ft (2024)
• Victory Avenue: Rs 1,320 per sq.ft (2024)
• Victor Avenue 1st Main Road: Rs 1,430 per sq.ft (2024)
• Vasantham Avenue Extension: Rs 1,430 per sq.ft (2024)
• Vamanan Small City: 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 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800, resulting in a combined total of Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value or 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 that covers 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 Vengambakkam

The guideline value plays a crucial role in property transactions in Vengambakkam, as it is used to determine the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during registration.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the correct 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 440 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 2012 to Rs 268 per sq.ft in 2017, then back to Rs 400 per sq.ft in 2023, and currently to Rs 440 per sq.ft in 2024.

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

V.O.C. Street is classified as Residential Class I Type - III under the Tambaram Joint 1 SRO.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 30,800, and the registration fee would be Rs 8,800, totaling Rs 39,600.

Which office handles property registrations for V.O.C. Street?

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