Guideline Value for VOC STREET EXT

Voc Street Ext guideline value

The current guideline value of Voc Street Ext is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Thirusulam village under the Pallavaram SRO, and it falls under the Residential Class IV Type - I land classification.

How the guideline value of Voc Street Ext has changed

The guideline value for Voc Street Ext has undergone several revisions over the years. The earliest recorded figure is from 2012, when it was set at Rs 1,000 per sq.ft. This was followed by a decrease to Rs 670 per sq.ft in 2017, marking a decline of 33%. In 2023, the value increased to Rs 1,000 per sq.ft, and then it rose again to Rs 1,100 per sq.ft in 2024, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49% in the guideline value. Overall, comparing the figures from 2012 to 2024, the guideline value has seen a modest increase of 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thirusulam

In Thirusulam, there are 74 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,080 to Rs 2,750 per sq.ft. The median value for these streets is Rs 1,940 per sq.ft, which indicates that the guideline value for Voc Street Ext is below this median.

• Voc Street: Rs 1,100 per sq.ft (2024)
• Workers Nagar: Rs 1,320 per sq.ft (2024)
• Workers Nagar 1 To 4 Streets: Rs 1,320 per sq.ft (2024)
• Yadaval Street: Rs 1,320 per sq.ft (2024)
• Venkateshwara Avenue 4 Street: Rs 2,200 per sq.ft (2024)
• Venkateshwara Avenue 3 Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Voc Street Ext

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Voc Street Ext?

The Voc Street Ext falls under the jurisdiction of the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Thirusulam. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when buying or selling property.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that the transaction is recorded accurately and in compliance with local regulations. Buyers and sellers should be aware of the guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Voc Street Ext?

The current guideline value of Voc Street Ext is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Voc Street Ext?

Voc Street Ext is classified under Residential Class IV Type - I.

Where is the Pallavaram Sub Registrar Office located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for properties in Thirusulam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 at 7%.