Guideline Value for VOC Block 3rd Street

VOC Block 3rd Street guideline value

The current guideline value of VOC Block 3rd Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class III Type - II.

How the guideline value of VOC Block 3rd Street has changed

The guideline value for VOC Block 3rd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 4,500 per sq.ft, which was then reduced to Rs 3,015 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 4,500 per sq.ft in the 2023 revision, and finally, it rose to Rs 4,900 per sq.ft in the 2024 revision, marking a 9% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 9%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values for 2024 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 equal to the current value of VOC Block 3rd Street.

• VOC Block 2nd Street: Rs 4,900 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. 4th Cross Street (4th Street): Rs 6,600 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 3rd 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 fees together 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 the stamp duty and registration fee calculator for accurate calculations based on your property details.

Which Sub Registrar Office covers VOC Block 3rd Street?

The Sub Registrar Office that covers VOC Block 3rd Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). To find your specific SRO, you can find your SRO.

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

The guideline value is an essential factor in property transactions in Kodambakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration norms and to calculate the applicable stamp duty and registration fees.

When a property is bought or sold, the guideline value helps in establishing a fair transaction price, ensuring that both parties are aware of the legal and financial implications involved in the registration process.

Frequently asked questions

What is the current guideline value of VOC Block 3rd Street?

The current guideline value of VOC Block 3rd 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 2012 to Rs 3,015 per sq.ft in 2017, then to Rs 4,500 per sq.ft in 2023, and finally to Rs 4,900 per sq.ft in 2024.

What are the other guideline values in Kodambakkam?

The guideline values in Kodambakkam range from Rs 2,200 to Rs 11,000 per sq.ft, with the median being Rs 4,900 per sq.ft, which is the same as the current value of VOC Block 3rd Street.

What fees are associated with buying property in VOC Block 3rd Street?

For a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000 and the registration fee would be Rs 98,000, totaling Rs 4,41,000 in fees.

Where is the Sub Registrar Office for VOC Block 3rd Street located?

The Sub Registrar Office for VOC Block 3rd Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.