Guideline Value for V.O.C. Street

V.O.C. Street guideline value

The current guideline value of V.O.C. Street in Kolathur village is Rs 2,700 per sq.ft, effective from 1 July 2024. This street falls under the Sembiam SRO and is classified as Residential Class II Type - I.

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

The guideline value of V.O.C. Street has seen several revisions over the years. In the 2007 revision, the guideline value was Rs 1,000 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in the 2012 revision, marking a 150% rise. The most recent revision in 2024 set the guideline value at Rs 2,700 per sq.ft, which is an 8% increase from the 2012 figure.

There are no figures available for the revisions in 2002, 2003, 2017, and 2023 for V.O.C. Street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 170%.

Guideline values in Kolathur

In Kolathur, a total of 879 streets under the Sembiam SRO have a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. V.O.C. Street's guideline value is below this median.

• V.P. Sindhan Nagar: Rs 2,700 per sq.ft (2024)
• V.V. Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• V.V. Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• V.V. Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• V.V. Nagar 4th Street: Rs 2,700 per sq.ft (2024)
• V.V. Nagar 5th Street: Rs 2,700 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 2,700 per sq.ft, the guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our 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 Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering a property in Kolathur. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented accurately in accordance with government regulations.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential costs involved in the transaction. Buyers should be aware of these values to ensure compliance with legal requirements during property registration.

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 has increased from Rs 1,000 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, marking an overall increase of 170%.

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 Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

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 of the property. For example, a property with a guideline value of Rs 27,00,000 would incur a stamp duty of Rs 1,89,000 at 7%.