Guideline Value for VOC Block 2nd Street

VOC Block 2nd Street guideline value

The current guideline value of VOC Block 2nd Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village, under the Ashok Nagar SRO, and is classified as Residential Class III Type - II.

How the guideline value of VOC Block 2nd Street has changed

The guideline value for VOC Block 2nd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 4,500 per sq.ft, which was a decrease of 33% from the previous revision in 2017, where the value was Rs 3,015 per sq.ft. The register has no figure for this street for the years 2002, 2003, and 2007.

In the 2023 revision, the guideline value increased to Rs 4,500 per sq.ft, and then further rose to Rs 4,900 per sq.ft in the 2024 revision, marking a 9% increase. Overall, from 2012 to 2024, the guideline value has increased by 9%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value is Rs 4,900 per sq.ft, which is the same as the current value for VOC Block 2nd Street.

• VOC Block 3rd Street: Rs 4,900 per sq.ft (2024)
• V.O.C. 4th Cross Street (4th Street): Rs 6,600 per sq.ft (2024)
• VOC Block 4th Street: Rs 4,900 per sq.ft (2024)
• VOC Block 5th Street: Rs 4,900 per sq.ft (2024)
• V.O.C. 3rd Cross Street (3rd Street): Rs 6,600 per sq.ft (2024)
• V.O.C. 2nd Main Road: Rs 7,600 per sq.ft (2024)

Stamp duty and registration fee for property in VOC Block 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, while the registration fee at 2% would be Rs 98,000, bringing the total to Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers VOC Block 2nd Street?

The Sub Registrar Office that covers VOC Block 2nd Street is the Ashok Nagar 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 Kodambakkam

The guideline value is a critical factor in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property transaction occurs, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. Buyers and sellers should always refer to the latest guideline value for accurate financial planning.

Frequently asked questions

What is the current guideline value of VOC Block 2nd Street?

The current guideline value of VOC Block 2nd Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,500 per sq.ft in 2023 to Rs 4,900 per sq.ft in 2024, representing a 9% increase. It was Rs 3,015 per sq.ft in 2017 and Rs 4,500 per sq.ft in 2012.

Where can I find the registration office for VOC Block 2nd Street?

The registration office for VOC Block 2nd Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the stamp duty rate for properties in Chennai?

The stamp duty rate for properties in Chennai is typically 7%. This is calculated based on the guideline value or the sale price, whichever is higher.

How does the guideline value affect property transactions?

The guideline value affects property transactions by determining the stamp duty and registration fees. It acts as a benchmark for ensuring that property transactions are recorded at a fair value.