Guideline Value for V.O.C.NAGAR

V.O.C.Nagar guideline value

The current guideline value of V.O.C.Nagar is Rs 770 per sq.ft, effective from 1 July 2024. This area is located in Thiruninravur-B village under the Avadi SRO and is classified as Residential Class II Type - III.

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

The guideline value for V.O.C.Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 469 per sq.ft, which increased to Rs 700 per sq.ft in 2023. The most recent revision in 2024 raised the value to Rs 770 per sq.ft, marking a 10% increase from the previous year. Notably, the overall increase from the 2017 revision to the current 2024 figure is 64%.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The increases between the revisions are significant, with a 49% rise from 2017 to 2023, reflecting a substantial change in the guideline value over the years.

Guideline values in Thiruninravur-B

In Thiruninravur-B, there are 374 streets under the Avadi SRO that carry a 2024 guideline value, ranging from Rs 330 to Rs 1,760 per sq.ft. The median value among these streets is Rs 770 per sq.ft, which is equal to the guideline value of V.O.C.Nagar.

• V.S.P.Nagar & Streets: Rs 770 per sq.ft (2024)
• Virundavan Nagar: Rs 770 per sq.ft (2024)
• Vinayagar Koil Street: Rs 770 per sq.ft (2024)
• Vilapakkam Subbaiah Nagar: Rs 770 per sq.ft (2024)
• 1st Padi Nagar: Rs 770 per sq.ft (2024)
• Venumadavan Nagar & Streets: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in V.O.C.Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total cost for these fees to Rs 69,300. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers V.O.C.Nagar is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Thiruninravur-B

The guideline value is a crucial factor when registering property transactions in Thiruninravur-B. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that all transactions are recorded at a fair value.

During the registration process, buyers and sellers must consider the guideline value as it directly affects the stamp duty and registration fees applicable to the transaction. This ensures compliance with local regulations and helps in maintaining transparency in property dealings.

Frequently asked questions

What is the current guideline value of V.O.C.Nagar?

The current guideline value of V.O.C.Nagar is Rs 770 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased by 64%, from Rs 469 per sq.ft to Rs 770 per sq.ft in 2024.

What is the land classification of V.O.C.Nagar?

V.O.C.Nagar is classified as Residential Class II Type - III.

Where is the Avadi Sub Registrar Office located?

The Avadi Sub Registrar Office is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

What is the stamp duty rate applicable in V.O.C.Nagar?

The stamp duty rate applicable in V.O.C.Nagar is 7% of the guideline value or the sale price, whichever is higher.