Guideline Value for V.O.C. Street

V.O.C. Street guideline value

The current guideline value of V.O.C. Street in Kottivakkam village is Rs 3,900 per sq.ft, effective from 1 July 2024. This street falls under the Adayar SRO and is classified as Residential Class II Type - I.

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

The guideline value of V.O.C. Street has undergone several revisions over the years. In 2002, the value was Rs 257 per sq.ft, which increased significantly to Rs 306 per sq.ft in 2003. Following this, the value saw a substantial rise to Rs 2,400 per sq.ft in 2007, and then to Rs 3,500 per sq.ft in 2012. However, there was a decrease to Rs 2,345 per sq.ft in 2017. The value then increased to Rs 3,500 per sq.ft in 2023, and finally reached Rs 3,900 per sq.ft in 2024.

From 2023 to 2024, the guideline value increased by 11%. The period from 2017 to 2023 saw a significant rise of 49%. The 2012 to 2017 revision reflected a decrease of 33%, while the 2007 to 2012 revision showed an increase of 46%. The most notable change was from 2003 to 2007, with an increase of 684%. Overall, from 2002 to 2024, the guideline value has increased by 1,418%.

Guideline values in Kottivakkam

In Kottivakkam, there are 284 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 8,500 per sq.ft. The median guideline value is Rs 3,900 per sq.ft, which is the same as the current value for V.O.C. Street.

• Water land Drive Road: Rs 3,900 per sq.ft (2024)
• Vivekanandar Street: Rs 4,400 per sq.ft (2024)
• Vivekanandar Extn. Road: Rs 2,800 per sq.ft (2024)
• Vivekanandar 3rd Street: Rs 4,400 per sq.ft (2024)
• Vivekanandar 3rd Cross Street: Rs 2,800 per sq.ft (2024)
• Vivekanandar 2nd Street: Rs 4,400 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 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total fees to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more accurate estimates.

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

The Sub Registrar Office that covers V.O.C. Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Kottivakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers must consider this value to ensure compliance with legal requirements.

When a property is registered, the guideline value is used to calculate the applicable fees. The fees are based on the higher amount between the guideline value and the actual sale price, ensuring 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 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 257 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1,418% over the years.

What is the role of the Adayar SRO?

The Adayar SRO is responsible for maintaining the guideline value register and facilitating property registrations in the Kottivakkam area, ensuring compliance with local regulations.

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

Stamp duty for properties on V.O.C. Street is calculated at 7% of the guideline value or the sale price, whichever is higher, along with a registration fee of 2%.

Where can I find more information about the guideline values in Kottivakkam?

More information about the guideline values in Kottivakkam can be found on the Registration Department's official website or by visiting the Adayar Sub Registrar Office.