Guideline Value for V.O.C. Street

V.O.C. Street guideline value

The current guideline value of V.O.C. Street in Kodungaiyur village, under the Madhavaram SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

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

The guideline value for V.O.C. Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 2,500 per sq.ft. This was followed by a decrease in the 2017 revision, where the value dropped to Rs 1,675 per sq.ft. However, the most recent 2024 revision saw a significant increase to Rs 2,700 per sq.ft, marking a 61% rise from the 2017 value.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. It is important to note that the register has no figures for V.O.C. Street for the years 2002, 2003, 2007, and 2023.

Guideline values in Kodungaiyur

In Kodungaiyur, there are a total of 1,318 streets that carry a 2024 guideline value, ranging from Rs 1,900 to Rs 4,000 per sq.ft, with the median being Rs 2,700 per sq.ft. V.O.C. Street's 2024 guideline value aligns perfectly with this median.

• V.V. Giri Street (Vivekananda Nagar): Rs 2,700 per sq.ft (2024)
• Water Tank Lane 1st Street: Rs 2,200 per sq.ft (2024)
• Water Tank Lane 2nd Street: Rs 2,200 per sq.ft (2024)
• Water Tank Lane 3th Street: Rs 2,200 per sq.ft (2024)
• Water Tank Lane 4th Street: Rs 2,200 per sq.ft (2024)
• Water Tank Lane 5th Street: Rs 2,200 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 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost for these fees to Rs 2,43,000. Please note that the duty is charged on the higher of the guideline value and 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 Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a crucial factor during property registration in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable to a property transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the necessary fees, which are based on either the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property 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 2,700 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 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, and then increased to Rs 2,700 per sq.ft in 2024.

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

V.O.C. Street is classified under Residential Class I Type - I, indicating its suitability for residential development.

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.7, Roja Nagar, Madhavaram, Chennai-600060.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate incurs a total of Rs 2,43,000 in fees.