Guideline Value for V.O.C.COLONY 2ND STREET

V.O.C.Colony 2nd Street guideline value

The current guideline value of V.O.C.Colony 2nd 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 2nd Street has changed

Over the years, the guideline value of V.O.C.Colony 2nd Street has seen significant changes. In 2002, the guideline value was Rs 573 per sq.ft, which increased to Rs 634 per sq.ft in 2003, marking an 11% rise. The value continued to grow, reaching Rs 1,800 per sq.ft in 2007, reflecting a substantial increase of 184%. The value then rose to Rs 6,500 per sq.ft in 2012, showing a 261% increase from the previous revision. However, it dropped to Rs 4,355 per sq.ft in 2017, which was a decrease of 33%.

From 2017 to 2023, the guideline value surged to Rs 6,500 per sq.ft, a remarkable increase of 49%. The most recent revision in 2024 set the guideline value at Rs 7,100 per sq.ft, marking a 9% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1139%.

Guideline values in Vadaagaram

In Vadaagaram, there are 78 streets under the Kodambakkam SRO with 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 2nd Street's 2024 figure of Rs 7,100 per sq.ft is above this median.

• V.O.C.Colony 1st 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would amount to Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000. Together, the total cost for these fees would be Rs 6,39,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers V.O.C.Colony 2nd Street?

The Sub Registrar Office that covers V.O.C.Colony 2nd Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vadaagaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is transparent and compliant with local regulations.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, which emphasizes the importance of understanding the guideline value in real estate transactions.

Frequently asked questions

What is the current guideline value of V.O.C.Colony 2nd Street?

The current guideline value of V.O.C.Colony 2nd 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 significantly, increasing from Rs 573 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 1139%.

What is the land classification for V.O.C.Colony 2nd Street?

The land classification for V.O.C.Colony 2nd Street is Commercial Class I Type - III.

Where is the Kodambakkam Sub Registrar Office located?

The Kodambakkam Sub Registrar Office 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, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 6,39,000.