Guideline Value for V.O.C.Nagar, Main Road, G Block

V.O.C.Nagar, Main Road, G Block guideline value

The current guideline value of V.O.C.Nagar, Main Road, G Block is Rs 12,600 per sq.ft, effective from 1 July 2024. This area is located in Periakudal village and falls under the AnnaNagar SRO with a land classification of Mixed Type - III.

How the guideline value of V.O.C.Nagar, Main Road, G Block has changed

The guideline value for V.O.C.Nagar has seen several revisions over the years. In 2007, the value was Rs 11,000 per sq.ft, which increased to Rs 11,500 per sq.ft in 2012. However, it dropped to Rs 7,705 per sq.ft in 2017. The 2023 revision saw a significant increase to Rs 11,500 per sq.ft, and the most recent revision in 2024 raised it further to Rs 12,600 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 15%. The changes include a 49% increase from 2017 to 2023, and a decrease of 33% from 2012 to 2017. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Periakudal

In Periakudal, there are 101 streets under the AnnaNagar SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 23,553 per sq.ft, with a median value of Rs 11,500 per sq.ft. The guideline value of V.O.C.Nagar, Main Road, G Block is above this median.

• W- Block, 3rd Avenue, C-12 to C-19, S.B. Kalyana Mandapam, D.K. Kalyana Mandapam, TNSC Bank: Rs 15,900 per sq.ft (2024)
• W Block, Streets: Rs 11,500 per sq.ft (2024)
• 2nd Avenue 326 to 335, 995 A Block, B Block, C Block, D Block, E Block, G Block, H Block, I Block: Rs 15,900 per sq.ft (2024)
• 2nd Avenue F Block: Rs 15,900 per sq.ft (2024)
• Valliammal Science College (for Women): Rs 14,800 per sq.ft (2024)
• Valliammal School: Rs 14,800 per sq.ft (2024)

Stamp duty and registration fee for property in V.O.C.Nagar, Main Road, G Block

For a 1,000 sq.ft plot at the current guideline value of Rs 12,600 per sq.ft, the total guideline value would be Rs 1,26,00,000. The stamp duty at 7% would amount to Rs 8,82,000, while the registration fee at 2% would be Rs 2,52,000. Together, the total cost for these fees would be Rs 11,34,000. 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, Main Road, G Block?

The Sub Registrar Office that covers V.O.C.Nagar, Main Road, G Block is the AnnaNagar Sub Registrar Office. The address is Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Periakudal. It serves as a basis for calculating the stamp duty and registration fees, which are mandatory during the buying or selling process.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable fees. This ensures that the registration process is transparent and standardized across 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, Main Road, G Block is Rs 12,600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly over the years, from Rs 11,000 per sq.ft in 2007 to Rs 12,600 per sq.ft in 2024, marking an overall increase of 15%.

What is the registration fee for property in V.O.C.Nagar?

The registration fee is charged at 2% of the guideline value. For a property valued at Rs 1,26,00,000, the registration fee would be Rs 2,52,000.

Which office handles registrations for V.O.C.Nagar?

The AnnaNagar Sub Registrar Office handles registrations for V.O.C.Nagar, Main Road, G Block. The office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the purpose of the guideline value?

The guideline value is used to determine the stamp duty and registration fees for property transactions. It ensures that these costs are calculated based on a standardized value for properties in the area.