Guideline Value for V.O.C. Street

V.O.C. Street guideline value

The current guideline value of V.O.C. Street in Theerthangiriyampattu village is Rs 605 per sq.ft, effective from 1 July 2024. This street falls under the Redhills SRO and is classified as Residential Special Type - I.

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

Over the years, the guideline value of V.O.C. Street has experienced several revisions. The earliest recorded figure is from 2002, which was Rs 425 per sq.ft. This figure saw a significant increase to Rs 44 per sq.ft in 2003, followed by a rise to Rs 400 per sq.ft in 2007. In 2012, the value returned to Rs 550 per sq.ft, which remained unchanged until 2017 when it increased to Rs 368 per sq.ft. The next revision in 2023 set the value at Rs 550 per sq.ft, and the most recent revision in 2024 established the current value at Rs 605 per sq.ft.

In terms of percentage changes, from 2002 to 2024, the overall increase is 42%. Notably, the change from 2023 to 2024 is an increase of 10%. From 2017 to 2023, there was a 49% increase, while the period from 2012 to 2017 saw a decrease of 33%. The value increased by 38% from 2007 to 2012 and experienced a remarkable rise of 809% from 2003 to 2007. The guideline value for the years 2012 and 2017 has no recorded figure for this street.

Guideline values in Theerthangiriyampattu

Theerthangiriyampattu village has a total of 24 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 880 per sq.ft. The median guideline value for these streets is Rs 605 per sq.ft, which is equal to the current value of V.O.C. Street.

• Vivek Akbar Avenue Extn: Rs 605 per sq.ft (2024)
• Vivek Akbar Avenue: Rs 605 per sq.ft (2024)
• Thiru.Vi.Ka. Street: Rs 440 per sq.ft (2024)
• Thiruvalluvar Street: Rs 605 per sq.ft (2024)
• Thargass Road: Rs 770 per sq.ft (2024)
• Sothupakkam Salai: 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 605 per sq.ft, the total guideline value would be Rs 6,05,000. The stamp duty at 7% would amount to Rs 42,350, and the registration fee at 2% would be Rs 12,100, leading to a total of Rs 54,450. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office covering V.O.C. Street is 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 Theerthangiriyampattu

The guideline value is an important factor in the registration process when buying or selling property in Theerthangiriyampattu. 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 registered, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 425 per sq.ft in 2002 to Rs 605 per sq.ft in 2024, reflecting an overall increase of 42% over this period.

What is the registration office for V.O.C. Street?

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

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 a rate of 7% on the guideline value or the sale price, whichever is higher.

Are there other streets with the same guideline value in Theerthangiriyampattu?

Yes, there are other streets in Theerthangiriyampattu that share the same guideline value of Rs 605 per sq.ft, including Vivek Akbar Avenue Extn, Vivek Akbar Avenue, and Thiruvalluvar Street.