Guideline Value for V.O.C.NAGAR

V.O.C.Nagar guideline value

The current guideline value of V.O.C.Nagar, located in Enjambakkam village under the Neelankarai SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

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

The guideline value for V.O.C.Nagar has undergone several revisions over the years. The earliest recorded value was Rs 190 per sq.ft in 2003, which increased significantly to Rs 500 per sq.ft in 2007. Following this, the value surged to Rs 2,000 per sq.ft in 2012, marking a substantial increase of 300%. However, it then decreased to Rs 1,340 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 2,000 per sq.ft in 2023, and most recently, it has increased to Rs 2,200 per sq.ft in 2024, reflecting a 10% rise from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1,058%. Notably, there is no figure recorded for the year 2002 in the register for this street.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 7,200 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which is equal to the current value of V.O.C.Nagar.

• V.K.Salai Cross: Rs 1,100 per sq.ft (2024)
• V.O.C Street: Rs 2,200 per sq.ft (2024)
• Vivekanandar Street: Rs 2,800 per sq.ft (2024)
• Vinayakar Koil Street (Pillaiyar Koil Street): Rs 2,800 per sq.ft (2024)
• Vimala Garden: Rs 3,900 per sq.ft (2024)
• V.G.P.Lay Out Part I & II & III: Rs 5,000 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator to estimate fees for your property transactions.

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

The Sub Registrar Office that covers V.O.C.Nagar is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Enjambakkam, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, ensuring that both parties adhere to legal requirements during the transaction.

Additionally, the guideline value is regularly updated to reflect changes in the real estate market, making it essential for buyers and sellers to stay informed about the current rates. This ensures transparency and fairness in property dealings within the region.

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 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, from Rs 190 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, representing an overall increase of 1,058% over this period.

What are the stamp duty and registration fees for properties in V.O.C.Nagar?

For a property valued at Rs 22,00,000, the stamp duty is Rs 1,54,000 and the registration fee is Rs 44,000, totaling Rs 1,98,000.

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

The Neelankarai Sub Registrar Office covers V.O.C.Nagar, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value of a property, which affects the calculation of stamp duty and registration fees during transactions. It ensures compliance with legal standards in property dealings.