Guideline Value for VOC Block 5th Street

VOC Block 5th Street guideline value

The current guideline value of VOC Block 5th 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 5th Street has changed

The guideline value for VOC Block 5th Street has seen several revisions over the years. The 2012 revision set the value at Rs 4,500 per sq.ft, which then decreased 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 further to Rs 4,900 per sq.ft in the 2024 revision, marking a 9% increase from the previous year.

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

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value is Rs 4,900 per sq.ft, which is equal to the guideline value of VOC Block 5th Street.

• VOC Block 4th Street: Rs 4,900 per sq.ft (2024)
• VOC Block 3rd 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 5th 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 to Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers VOC Block 5th Street?

The Sub Registrar Office that covers VOC Block 5th 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 an important factor in property transactions in Kodambakkam, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that buyers need to pay when purchasing a property.

When selling a property, the guideline value serves as a benchmark to ensure that the sale price is in line with government regulations. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for VOC Block 5th Street?

The current guideline value for VOC Block 5th 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 is the land classification for VOC Block 5th Street?

The land classification for VOC Block 5th Street is Residential Class III Type - II.

Where is the Ashok Nagar Sub Registrar Office located?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is stamp duty calculated for properties in VOC Block 5th Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 49,00,000, the stamp duty at 7% would be Rs 3,43,000.