Guideline Value for V.O.C. Street

V.O.C. Street guideline value

The current guideline value of V.O.C. Street in Padiyanallur village, under the Redhills SRO, is Rs 770 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. The earliest recorded figure is from 2003, which was Rs 171 per sq.ft. This value increased significantly to Rs 400 per sq.ft in 2007, marking a 134% rise. In 2012, the value was recorded at Rs 700 per sq.ft, reflecting a 75% increase from the previous revision. However, this figure dropped by 33% to Rs 469 per sq.ft in 2017.

From 2017 to 2023, the guideline value saw a substantial increase of 49%, reaching Rs 700 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 770 per sq.ft, a 10% increase from the previous year. The register has no figure for this street in 2002.

Guideline values in Padiyanallur

Padiyanallur village has a total of 132 streets under the Redhills SRO, with the 2024 guideline values ranging from Rs 385 to Rs 2,750 per sq.ft. The median value for these streets is Rs 770 per sq.ft, which is the same as the current guideline value for V.O.C. Street.

• V.P. Chinthan Street: Rs 660 per sq.ft (2024)
• Vivakanandar Street: Rs 770 per sq.ft (2024)
• Zakir Hussain Street: Rs 770 per sq.ft (2024)
• Videsh Sanchar Nigam Employees Co-Operative Society: Rs 2,500 per sq.ft (2024)
• Veerapandi Street: Rs 660 per sq.ft (2024)
• Veeramamunivar Street: Rs 770 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 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, while the registration fee at 2% would be Rs 15,400. Together, the total cost for stamp duty and registration fee would be Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers V.O.C. Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. To find your SRO, you can visit this link.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Padiyanallur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the registration process is transparent and standardized across the region.

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 171 per sq.ft in 2003 to Rs 770 per sq.ft in 2024, marking an overall increase of 350% over the years.

What are the other streets in Padiyanallur with their guideline values?

Other streets in Padiyanallur include V.P. Chinthan Street at Rs 660 per sq.ft, Vivakanandar Street at Rs 770 per sq.ft, and Zakir Hussain Street at Rs 770 per sq.ft, among others.

What is the stamp duty rate for properties in V.O.C. Street?

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

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

The Sub Registrar Office for V.O.C. Street is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.