Guideline Value for VOC Nagar/Aravindan Street

VOC Nagar/Aravindan Street guideline value

The current guideline value of VOC Nagar/Aravindan Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Pammal village under the Pammal SRO, classified as Commercial Class I Type - II.

How the guideline value of VOC Nagar/Aravindan Street has changed

The guideline value for VOC Nagar/Aravindan Street has seen several revisions over the years. The oldest recorded revision is from 2017, where the value was Rs 1,675 per sq.ft. This increased to Rs 2,500 per sq.ft in 2023, marking a significant rise of 49%. The most recent revision in 2024 set the value at Rs 2,750 per sq.ft, representing a 10% increase from the previous year.

There are no recorded figures for this street in the revisions from 2002, 2003, 2007, and 2012. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft as per the 2024 revision. The median guideline value in Pammal is Rs 2,090 per sq.ft, placing VOC Nagar/Aravindan Street above this median.

• V.O.C Nagar, 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• V.O.C Nagar, 1st Cross Street: Rs 2,750 per sq.ft (2024)
• VOC Street / Ambedkar Nagar: Rs 2,750 per sq.ft (2024)
• VOC Street / Mungil Lake: Rs 2,750 per sq.ft (2024)
• VOC Street / Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• V.O.C Street, Thiruvalluvar Nagar: Rs 2,475 per sq.ft (2024)

Stamp duty and registration fee for property in VOC Nagar/Aravindan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value is Rs 27,50,000. The stamp duty at 7% amounts to Rs 1,92,500, and the registration fee at 2% totals Rs 55,000, bringing the total to Rs 2,47,500. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers VOC Nagar/Aravindan Street?

The VOC Nagar/Aravindan Street falls under the Pammal Sub Registrar Office located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process of property transactions in Pammal. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, the guideline value helps determine the legal value of the property being registered. This ensures transparency and fairness in property transactions, protecting both buyers and sellers.

Frequently asked questions

What is the current guideline value of VOC Nagar/Aravindan Street?

The current guideline value of VOC Nagar/Aravindan Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,675 per sq.ft in 2017 to Rs 2,500 per sq.ft in 2023, and then to Rs 2,750 per sq.ft in 2024. This represents a 64% increase from 2017 to 2024.

What is the median guideline value in Pammal?

The median guideline value in Pammal is Rs 2,090 per sq.ft as per the 2024 revision. VOC Nagar/Aravindan Street's guideline value is above this median.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For a property valued at Rs 27,50,000, the total fees would amount to Rs 2,47,500.

Where is the Pammal Sub Registrar Office located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. This office handles the registration of properties in the area.