Guideline Value for V.O.C. Street

V.O.C. Street guideline value

The current guideline value of V.O.C. Street in Menambedu village, under the Ambattur SRO, is Rs 1,001 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class IV Type - I land classification.

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

In the 2012 revision, the guideline value was Rs 800 per sq.ft. This value decreased to Rs 536 per sq.ft in the 2017 revision, marking a decline of 33%. The 2023 revision saw an increase to Rs 1,000 per sq.ft, and the most recent 2024 revision raised it to Rs 1,001 per sq.ft, showing no change from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

Overall, from 2012 to 2024, the guideline value has increased by 25%. The significant change occurred between 2017 and 2023, with an increase of 87% during that period.

Guideline values in Menambedu

In Menambedu, there are 171 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 6,680 per sq.ft. The median guideline value for these streets is Rs 1,003 per sq.ft, making V.O.C. Street's 2024 figure slightly below that median.

• V.O. C. Nagar.: Rs 1,001 per sq.ft (2024)
• Vittal Street(gnanamurthy nagar): Rs 1,700 per sq.ft (2024)
• Vittal Street First Lane: Rs 1,700 per sq.ft (2024)
• VittalRao Street: Rs 1,700 per sq.ft (2024)
• Venkatraman Street: Rs 1,700 per sq.ft (2024)
• Venkateshwara Nagar: Rs 1,002 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 rate of Rs 1,001 per sq.ft, the guideline value would be Rs 10,01,000. The stamp duty at 7% would amount to Rs 70,070, and the registration fee at 2% would be Rs 20,020, totaling Rs 90,090. It is important to note that 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 Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Menambedu, the guideline value helps in calculating the stamp duty and registration fees that need to be paid to the government.

During the registration process, the guideline value ensures transparency and fairness in property transactions. It helps both buyers and sellers understand the official worth of the property based on current market conditions as reflected in the guideline value register.

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 1,001 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 1,001 per sq.ft in 2024, reflecting a 25% increase overall.

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

V.O.C. Street is classified under Residential Class IV Type - I.

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

The Ambattur Sub Registrar Office covers V.O.C. Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

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 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fee would be Rs 90,090.