Guideline Value for VOC STREET

Voc Street guideline value

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

How the guideline value of Voc Street has changed

Starting from the oldest revision, the guideline value for Voc Street was Rs 1,000 per sq.ft in 2012. This figure remained the same in 2012 and then decreased to Rs 670 per sq.ft in 2017, marking a decline of 33%. Following this, the value saw a significant increase of 49%, reaching Rs 1,000 per sq.ft in 2023. The most recent revision in 2024 has further increased the value to Rs 1,100 per sq.ft, reflecting a 10% rise from the previous year.

The register has no figure for Voc Street for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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, with a median of Rs 1,940 per sq.ft. The guideline value for Voc Street is below this median.

• Voc Street Ext: 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

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 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 Street?

The Sub Registrar Office that covers Voc Street is 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 information.

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

The guideline value is a crucial factor during property registration in Thirusulam. It determines the minimum value at which a property can be registered and is used to calculate stamp duty and registration fees.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, helping to maintain transparency in property dealings. It is essential for both buyers and sellers to be aware of the latest guideline values to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Voc Street?

The current guideline value of Voc Street 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 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?

Voc Street is classified as Residential Class IV Type - I, which is a category designated for residential properties in the area.

Where can I find information about the Pallavaram Sub Registrar Office?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044. You can also find more details by visiting the find your SRO link.

How is stamp duty calculated for properties in Voc 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 11,00,000, the stamp duty would be Rs 77,000 at a rate of 7%.