Guideline Value for V.O.C.COLONY 3RD STREET

V.O.C.Colony 3rd Street guideline value

The current guideline value for V.O.C.Colony 3rd Street is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Vadaagaram village under the Kodambakkam SRO, classified as Commercial Class I Type - III.

How the guideline value of V.O.C.Colony 3rd Street has changed

The guideline value for V.O.C.Colony 3rd Street has undergone several revisions over the years. In 2002, the guideline value was Rs 645 per sq.ft, which increased to Rs 714 per sq.ft in 2003. Following this, the value saw a significant rise to Rs 1,800 per sq.ft in 2007, marking an increase of 152%. The value then rose dramatically to Rs 6,500 per sq.ft in 2012, reflecting a 261% increase from the previous revision. However, it decreased to Rs 4,355 per sq.ft in 2017, a drop of 33%. The value rebounded to Rs 6,500 per sq.ft in 2023, before reaching the current figure of Rs 7,100 per sq.ft in 2024, which is a 9% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1001%. There are no figures available for any other revisions for this street.

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. The median value for these streets is Rs 6,600 per sq.ft, placing V.O.C.Colony 3rd Street's 2024 guideline value above this median.

• V.O.C.Colony 2nd Street: Rs 7,100 per sq.ft (2024)
• V.O.C.Colony 1st 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 3rd 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, bringing the total fees to Rs 6,39,000. 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 information.

Which Sub Registrar Office covers V.O.C.Colony 3rd Street?

The Sub Registrar Office that covers V.O.C.Colony 3rd 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 that need to be paid when a property is bought or sold.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of V.O.C.Colony 3rd Street?

The current guideline value of V.O.C.Colony 3rd 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 several times, starting from Rs 645 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 1001% over this period.

What is the stamp duty for property in V.O.C.Colony 3rd Street?

The stamp duty for property in V.O.C.Colony 3rd Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for V.O.C.Colony 3rd Street located?

The Sub Registrar Office for V.O.C.Colony 3rd Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It is compared with the sale price, and the higher value is used for calculating the applicable duties.