Guideline Value for V.O.C.COLONY 1ST STREET

V.O.C.Colony 1st Street guideline value

The current guideline value of V.O.C.Colony 1st Street is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Vadaagaram village and falls under the Kodambakkam SRO. The land classification for this area is Commercial Class I Type - III.

How the guideline value of V.O.C.Colony 1st Street has changed

The guideline value for V.O.C.Colony 1st Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 612 per sq.ft. This increased to Rs 677 per sq.ft in 2003, marking an 11% rise. The value continued to rise significantly, reaching Rs 1,800 per sq.ft in 2007, which was a 166% increase. The 2012 revision saw the value at Rs 6,500 per sq.ft, reflecting a substantial 261% increase from the previous revision.

From 2012 to 2017, the guideline value decreased to Rs 4,355 per sq.ft, a decline of 33%. However, from 2017 to 2023, the value increased to Rs 6,500 per sq.ft, representing a 49% rise. The most recent revision in 2024 set the guideline value at Rs 7,100 per sq.ft, which is a 9% increase from the previous year.

Guideline values in Vadaagaram

In Vadaagaram, there are 78 streets under the Kodambakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft, with a median value of Rs 6,600 per sq.ft. V.O.C.Colony 1st Street's 2024 guideline value is above this median.

• V.O.C.Colony 2nd Street: Rs 7,100 per sq.ft (2024)
• V.O.C.Colony 3rd Street: Rs 7,100 per sq.ft (2024)
• Vinayagar 2nd Street: Rs 6,300 per sq.ft (2024)
• Vinayagar 1st Street: Rs 6,000 per sq.ft (2024)
• Vada Agaram Street: Rs 6,600 per sq.ft (2024)
• Vada Agaram Road: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in V.O.C.Colony 1st Street

For a 1,000 sq.ft plot at the current rate of Rs 7,100 per sq.ft, the guideline value would be Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, totaling Rs 6,39,000. It is important to 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.Colony 1st Street?

The Sub Registrar Office that covers V.O.C.Colony 1st Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Vadaagaram. It serves as a benchmark for determining the stamp duty and registration fees payable when buying or selling property.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded at a fair value. This helps in maintaining transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of V.O.C.Colony 1st Street?

The current guideline value of V.O.C.Colony 1st Street is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 612 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 1060% over the years.

What is the land classification for V.O.C.Colony 1st Street?

The land classification for V.O.C.Colony 1st Street is Commercial Class I Type - III.

Where can I find the Sub Registrar Office for V.O.C.Colony 1st Street?

The Sub Registrar Office for V.O.C.Colony 1st Street is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

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, on a property valued at Rs 71,00,000, the total fees would amount to Rs 6,39,000.