Guideline Value for V.O.C. Street

V.O.C. Street guideline value

The current guideline value of V.O.C. Street in Soorapattu village, under the Ambattur SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - I land classification.

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

Over the years, the guideline value of V.O.C. Street has seen several revisions. The 2012 revision set the value at Rs 1,000 per sq.ft, which then decreased to Rs 670 per sq.ft in 2017. Following this, the value increased to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,100 per sq.ft as of the 2024 revision. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2017 to 2023, there was a significant increase of 49%. The change from 2023 to 2024 reflects a 10% increase. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 10%.

Guideline values in Soorapattu

In Soorapattu village, there are 115 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 5,100 per sq.ft. The median guideline value for these streets is Rs 1,300 per sq.ft, placing V.O.C. Street's 2024 figure below this median.

• Vijaya Avenue: Rs 1,200 per sq.ft (2024)
• Venkateswara Street: Rs 1,100 per sq.ft (2024)
• Valluvar Nagar: Rs 1,100 per sq.ft (2024)
• Thulukanathamman Koil Street: Rs 1,700 per sq.ft (2024)
• Thulukanathaman Nagar: Rs 2,400 per sq.ft (2024)
• Thiruvalluvar Street: Rs 1,100 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 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty, charged at 7%, would amount to Rs 77,000, while the registration fee at 2% would be Rs 22,000. Together, these fees would total Rs 99,000. It is important to note that 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 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 Soorapattu

The guideline value plays a crucial role in the registration process when buying or selling property in Soorapattu. It is the minimum value set by the government for property transactions, ensuring that the property is registered at a fair value.

When a property is sold, the buyer must pay stamp duty and registration fees 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 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of V.O.C. Street has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then to Rs 1,000 per sq.ft in 2023, and is currently Rs 1,100 per sq.ft as of 2024.

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

V.O.C. Street is classified as Residential Class III Type - I, which indicates its suitability for residential purposes.

What are the registration fees for properties in V.O.C. Street?

The registration fees for properties in V.O.C. Street include a stamp duty of 7% and a registration fee of 2% on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Soorapattu village?

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