Guideline Value for V.O.C. Street

V.O.C. Street guideline value

The current guideline value of V.O.C. Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village, under the Chennai Central Joint I SRO, and 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. The register has no figure for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 7,000 per sq.ft, which increased to Rs 7,700 per sq.ft in the 2024 revision, marking a change of +10%.

Prior to the 2023 revision, there were no figures listed for this street in the register for the years mentioned. The current guideline value reflects the latest revision and is significant for property transactions in the area.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO, with 2024 guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing V.O.C. Street's 2024 figure below this median.

• V.V.Koil Lane: Rs 8,700 per sq.ft (2024)
• West End Street: Rs 8,700 per sq.ft (2024)
• Yahiya Ali 1st Street: Rs 7,700 per sq.ft (2024)
• Yahiya Ali 2nd Street: Rs 7,700 per sq.ft (2024)
• Yahiya Ali 3rd Street: Rs 7,700 per sq.ft (2024)
• Venkatarathinam Salai: Rs 10,900 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 7,700 per sq.ft, the guideline value would be Rs 77,00,000. The stamp duty at 7% would amount to Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, totaling Rs 6,93,000. It's important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, 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 Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

Additionally, the guideline value affects the calculation of stamp duty and registration fees, which are necessary for completing property transactions legally. Understanding the guideline value helps in budgeting for these costs during the buying or selling 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 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for V.O.C. Street has changed from Rs 7,000 per sq.ft in 2023 to Rs 7,700 per sq.ft in 2024, reflecting a +10% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value in Mylapore Part 1?

The median guideline value for streets in Mylapore Part 1 is Rs 8,800 per sq.ft. V.O.C. Street's current value is below this median.

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

For a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000, and the registration fee would be Rs 1,54,000, totaling Rs 6,93,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office covering V.O.C. Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. This office is part of the Chennai Central Joint I SRO.