Guideline Value for V.O.C.NAGAR

V.O.C.Nagar guideline value

The current guideline value of V.O.C.Nagar, located in Padi village under the Villivakkam SRO, is Rs 3,400 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class IV Type - II.

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. In 2002, the guideline value was Rs 251 per sq.ft. This increased to Rs 285 per sq.ft in 2003, marking a 14% rise. The value then surged significantly to Rs 1,180 per sq.ft in 2007, reflecting a 314% increase. Following this, the value rose to Rs 3,100 per sq.ft in 2012, which was a 163% increase. However, it dropped to Rs 2,077 per sq.ft in 2017, showing a decrease of 33%. The most recent revisions show that the value increased to Rs 3,100 per sq.ft in 2023, and further to Rs 3,400 per sq.ft in 2024, marking a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1255%. There are no figures available for the years between the revisions listed above.

Guideline values in Padi

Padi village has a total of 354 streets under the Villivakkam SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 13,200 per sq.ft. The median value for these streets is Rs 3,800 per sq.ft, which means that V.O.C.Nagar's guideline value is below this median.

• W-Block "a" Sector: Rs 8,700 per sq.ft (2024)
• W-Block "b" Sector: Rs 8,700 per sq.ft (2024)
• W-Block "c" Sector: Rs 8,700 per sq.ft (2024)
• W-Block "d" Sector: Rs 8,700 per sq.ft (2024)
• W-BLOCK Inner Side Plot's: Rs 8,700 per sq.ft (2024)
• Welcome Colony: Rs 8,200 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 3,400 per sq.ft, the total guideline value amounts to Rs 34,00,000. The stamp duty at 7% would be Rs 2,38,000, and the registration fee at 2% would be Rs 68,000, bringing the total cost to Rs 3,06,000. 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 further calculations.

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

The Sub Registrar Office that covers V.O.C.Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Padi. 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 a property is registered, the guideline value is assessed, and the stamp duty is calculated based on this value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

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 3,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 251 per sq.ft in 2002 to Rs 3,400 per sq.ft in 2024, showing an overall increase of 1255% over this period.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total cost would be Rs 3,06,000.

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

The Villivakkam Sub Registrar Office covers V.O.C.Nagar, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

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

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