Guideline Value for V.O.C. Street

V.O.C. Street guideline value

The current guideline value of V.O.C. Street in Tharamani village, under the Adayar SRO, is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class II Type - I.

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. In 2002, the guideline value was Rs 159 per sq.ft, which increased to Rs 300 per sq.ft in 2003, marking an increase of 89%. The value then rose significantly to Rs 1,000 per sq.ft in 2007, representing a 233% increase. Following this, the value reached Rs 2,500 per sq.ft in 2012, reflecting a 150% increase from the previous revision. However, from 2012 to 2017, the value decreased to Rs 1,675 per sq.ft, which is a decline of 33%. The value then increased to Rs 2,500 per sq.ft in 2023, and finally, it is set to rise to Rs 2,800 per sq.ft in 2024, showing a 12% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1661%. There are no figures available for the revisions in years other than those mentioned.

Guideline values in Tharamani

In Tharamani, there are 78 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 8,800 per sq.ft, with the median being Rs 2,800 per sq.ft. V.O.C. Street's 2024 guideline value is equal to this median.

• Vinayagar Street: Rs 2,800 per sq.ft (2024)
• Yerikkarai Street: Rs 2,800 per sq.ft (2024)
• 100 Feet Road: Rs 8,800 per sq.ft (2024)
• Vanjinathan Street: Rs 2,800 per sq.ft (2024)
• T.K. Kabali Street: Rs 2,800 per sq.ft (2024)
• Thiru.Vi.Ka. Street: Rs 2,800 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 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, resulting in a total of Rs 2,52,000. 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 our stamp duty and registration fee calculator for more detailed calculations.

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

The Adayar Sub Registrar Office covers V.O.C. Street, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. To find your SRO, you can visit this link.

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

The guideline value is a critical factor when registering property transactions in Tharamani. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is bought or sold, the guideline value is used to calculate the applicable taxes, ensuring that the transaction is recorded accurately in the official registry. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

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 2,800 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 159 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 1661% over this period.

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

V.O.C. Street is classified as Residential Class II Type - I, which is important for understanding its usage and value.

Where is the Sub Registrar Office for V.O.C. Street located?

The Adayar Sub Registrar Office, which covers V.O.C. Street, is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000 at a rate of 7%.