Guideline Value for V.O.C. Street

V.O.C. Street guideline value

The current guideline value of V.O.C. Street in Mylapore Part 2 village is Rs 7,700 per sq.ft, effective from 1 July 2024. This street falls 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 this street in 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the value was Rs 7,000 per sq.ft. Following this, the 2024 revision increased the guideline value to Rs 7,700 per sq.ft, reflecting a change of +10% from the previous year.

With the 2024 revision, V.O.C. Street's guideline value is now Rs 7,700 per sq.ft. This figure is below the median guideline value of Rs 8,800 per sq.ft for the 332 streets in Mylapore Part 2 under the Chennai Central Joint I SRO.

Guideline values in Mylapore Part 2

The guideline values for Mylapore Part 2 range from Rs 4,400 to Rs 25,300 per sq.ft. The median value is Rs 8,800 per sq.ft, with V.O.C. Street positioned below this median. Other streets in Mylapore Part 2 include:

• 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 amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, totaling Rs 6,93,000. Duty is charged on the guideline value or the sale price, whichever is higher. 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 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 information.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value plays a crucial role during property registration in Mylapore Part 2. It is used to calculate the stamp duty and registration fees applicable to the transaction, ensuring that the government receives its due revenue from property sales.

When buying or selling property, the guideline value serves as a benchmark for determining the minimum value at which the property can be registered. This helps maintain transparency and accountability in real estate 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 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value 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 2?

The median guideline value in Mylapore Part 2 is Rs 8,800 per sq.ft. V.O.C. Street's guideline value is below this median.

What are the stamp duty rates for properties in V.O.C. Street?

The stamp duty for properties in V.O.C. Street is charged at 7% of the guideline value or sale price, whichever is higher. The registration fee is 2% of the guideline value.

Where can I find the Sub Registrar Office for V.O.C. Street?

The Sub Registrar Office covering V.O.C. Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find more information about your SRO online.