Guideline Value for VOC Block 4th Street

VOC Block 4th Street guideline value

The current guideline value of VOC Block 4th 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 4th Street has changed

The guideline value for VOC Block 4th Street has undergone several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 4,500 per sq.ft. In 2017, it decreased to Rs 3,015 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49% to reach Rs 4,500 per sq.ft. The most recent revision in 2024 set the value at Rs 4,900 per sq.ft, reflecting a 9% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 9%.

Guideline values in Kodambakkam

Kodambakkam village has a total of 1,031 streets under the Ashok Nagar SRO, with the 2024 guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, which is equal to the current guideline value of VOC Block 4th Street.

• VOC Block 3rd Street: Rs 4,900 per sq.ft (2024)
• VOC Block 5th Street: Rs 4,900 per sq.ft (2024)
• VOC Block 2nd 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 4th Street

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

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers VOC Block 4th Street?

The Sub Registrar Office that covers VOC Block 4th 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 crucial factor when buying or selling property in Kodambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration regulations.

During the registration process, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of VOC Block 4th Street?

The current guideline value of VOC Block 4th 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, marking a 9% increase. The value was Rs 3,015 per sq.ft in 2017, showing a significant increase of 49% to reach Rs 4,500 per sq.ft in 2023.

What are the other streets in Kodambakkam with the same guideline value?

Other streets in Kodambakkam with the same guideline value of Rs 4,900 per sq.ft include VOC Block 3rd Street, VOC Block 5th Street, and VOC Block 2nd Street.

What are the stamp duty and registration fees for a property in VOC Block 4th Street?

For a property valued at Rs 49,00,000, the stamp duty is Rs 3,43,000, and the registration fee is Rs 98,000, totaling Rs 4,41,000. This is based on the current guideline value of Rs 4,900 per sq.ft.

Which office handles registrations for VOC Block 4th Street?

The Ashok Nagar Sub Registrar Office handles registrations for VOC Block 4th Street. It is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.