Guideline Value for V.O.C.Street

V.O.C.Street guideline value

The current guideline value of V.O.C.Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Chengalpattu Town village under the Chengleput Joint I SRO, classified as Residential Class I Type - I.

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

The guideline value for V.O.C.Street has undergone several revisions over the years. The earliest recorded figure is from 2007, set at Rs 750 per sq.ft. This value increased significantly by 233% to Rs 2,500 per sq.ft in 2012. However, it then decreased by 33% to Rs 1,675 per sq.ft in 2017. The value rose again to Rs 2,500 per sq.ft in 2023, and most recently, it has increased by 10% to the current rate of Rs 2,750 per sq.ft in 2024.

There are no recorded figures for V.O.C.Street in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 267%.

Guideline values in Chengalpattu Town

In Chengalpattu Town, there are 55 streets under the Chengleput Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value for these streets is Rs 3,025 per sq.ft, placing V.O.C.Street's 2024 figure below that median.

• Veerakudi Velalar Street: Rs 2,420 per sq.ft (2024)
• Varadanar Street: Rs 4,125 per sq.ft (2024)
• Vakil Krishnaswamy Street: Rs 2,420 per sq.ft (2024)
• Thirukazhukundram Road: Rs 2,475 per sq.ft (2024)
• Thimmaraja kula Street: Rs 3,850 per sq.ft (2024)
• T.E.L.C.Compound 4th Cross Street: Rs 3,850 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, resulting in a total of Rs 2,47,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

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

The Sub Registrar Office that covers V.O.C.Street is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor when registering property transactions in Chengalpattu Town. It serves as a benchmark for determining the stamp duty and registration fees applicable to the sale or purchase of property.

When you buy or sell property, the guideline value ensures that the transaction is recorded at a fair value. This helps in maintaining transparency in property dealings and ensures that the government receives the appropriate taxes from these transactions.

Frequently asked questions

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

The current guideline value of V.O.C.Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, representing an overall increase of 267% over this period.

What are the other streets with guideline values in Chengalpattu Town?

Other streets in Chengalpattu Town have varying guideline values, with rates ranging from Rs 1,650 to Rs 5,500 per sq.ft. For example, Veerakudi Velalar Street is valued at Rs 2,420 per sq.ft in 2024.

What fees are associated with buying property on V.O.C.Street?

When buying property on V.O.C.Street, buyers should consider the stamp duty of 7% and registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for V.O.C.Street?

The Sub Registrar Office for V.O.C.Street is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.