Guideline Value for V.O.C.nagar 1st street

V.O.C.nagar 1st street guideline value

The current guideline value of V.O.C.nagar 1st street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Ayappakkam village, under the Ambattur SRO, and is classified as Residential Class I Type - II.

How the guideline value of V.O.C.nagar 1st street has changed

Over the years, the guideline value for V.O.C.nagar 1st street has seen several revisions. The earliest recorded figure is from 2007, when the guideline value was Rs 400 per sq.ft. This increased significantly to Rs 1,000 per sq.ft in 2012, marking a 150% rise. However, the value decreased to Rs 670 per sq.ft in 2017, a drop of 33%. The subsequent revision in 2023 saw a substantial increase to Rs 1,000 per sq.ft, followed by the current value of Rs 1,100 per sq.ft from the 2024 revision, reflecting a 10% increase.

From 2007 to 2024, the overall increase in the guideline value is 175%. Notably, there are no recorded figures for the years 2002 and 2003 for this street.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 4,000 per sq.ft. The median guideline value in this area is Rs 1,300 per sq.ft, placing V.O.C.nagar 1st street's 2024 figure below that median.

• V.O.C. nagar 2nd street: Rs 1,100 per sq.ft (2024)
• V.O.C. Nagar: Rs 1,100 per sq.ft (2024)
• V.O.C. Cross Street (Jayaram nagar): Rs 1,100 per sq.ft (2024)
• V.O.C. Street (Iyappa nagar): Rs 1,700 per sq.ft (2024)
• V.O.C. Street(Jayaram nagar): Rs 1,100 per sq.ft (2024)
• Vivek Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in V.O.C.nagar 1st street

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more information on calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers V.O.C.nagar 1st street?

The V.O.C.nagar 1st street is covered by the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Ayappakkam. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers must be aware of the guideline value to ensure they are compliant with local regulations.

When a property is registered, the guideline value is considered to ascertain the fees, which are based on this value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of V.O.C.nagar 1st street?

The current guideline value of V.O.C.nagar 1st street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 175% over the years.

What is the median guideline value in Ayappakkam?

The median guideline value in Ayappakkam is Rs 1,300 per sq.ft, which is higher than the current value of V.O.C.nagar 1st street.

What are the stamp duty rates applicable in V.O.C.nagar 1st street?

The stamp duty rate for properties in V.O.C.nagar 1st street is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for V.O.C.nagar 1st street?

The Sub Registrar Office covering V.O.C.nagar 1st street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.