Guideline Value for V.O.C. Street

V.O.C. Street guideline value

The current guideline value of V.O.C. Street in Puzhal village, under the Redhills SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II 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 2002, the value was Rs 1,264 per sq.ft, but it decreased to Rs 128 per sq.ft in 2003, marking a significant drop of 90%. The value then increased to Rs 300 per sq.ft in 2007, followed by a substantial rise to Rs 800 per sq.ft in 2012, which was a 167% increase. However, the value saw a decline to Rs 536 per sq.ft in 2017, which represented a decrease of 33%.

From 2017 to 2023, the guideline value rose sharply to Rs 1,000 per sq.ft, an increase of 87%. The most recent revision in 2024 set the value at Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year. The overall change from 2002 to 2024 shows a decrease of 13% in the guideline value for this street.

Guideline values in Puzhal

In Puzhal, there are 270 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 1,102 per sq.ft. The guideline value of V.O.C. Street is below this median.

• V.S. Mani Nagar: Rs 2,200 per sq.ft (2024)
• V.S. Mani Ring Road Co-operative Housing Sector: Rs 2,200 per sq.ft (2024)
• Vishnu Nagar: Rs 1,100 per sq.ft (2024)
• Vionayagar Koil Street: Rs 1,650 per sq.ft (2024)
• Vinayagar Koil Street: Rs 1,650 per sq.ft (2024)
• Vijiya Avenue: Rs 1,102 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 at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, together totaling Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

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

The V.O.C. Street falls under the jurisdiction of the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a critical factor during property transactions in Puzhal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when registering a property. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the applicable duties. This ensures that the transaction is recorded accurately and that the government receives the appropriate fees based on the established guideline value.

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 has changed from Rs 1,264 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, reflecting various increases and decreases over the years.

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

V.O.C. Street is classified as Residential Class II Type - I.

Where can I find the Redhills Sub Registrar Office?

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

How is stamp duty calculated for properties in V.O.C. Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 77,000.