Guideline Value for VOC Saminathan Street

VOC Saminathan Street guideline value

The current guideline value of VOC Saminathan Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village, under the Tambaram Joint 1 SRO, and falls under the Residential Class I Type - II land classification.

How the guideline value of VOC Saminathan Street has changed

Over the years, the guideline value of VOC Saminathan Street has seen several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 1,675 per sq.ft. The next revision in 2023 raised the value to Rs 2,500 per sq.ft, followed by a further increase to Rs 2,750 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

In summary, from 2012 to 2024, the overall change in the guideline value is an increase of 10%. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

In Chitlapakkam village, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values for 2024 ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 1,650 per sq.ft, making the current value of VOC Saminathan Street above this median.

• Viyasar Street: Rs 1,650 per sq.ft (2024)
• Vu.Ve.Saminatha Cross Street: Rs 2,750 per sq.ft (2024)
• Vu.Ve.Saminatha Street: Rs 3,850 per sq.ft (2024)
• Viswamithran Street: Rs 1,650 per sq.ft (2024)
• Yamuna Street: Rs 2,750 per sq.ft (2024)
• Vinayagar St: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in VOC Saminathan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers VOC Saminathan Street?

The Sub Registrar Office that covers VOC Saminathan Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, 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 Chitlapakkam

The guideline value plays a crucial role during the registration of property transactions in Chitlapakkam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the legal valuation of the property. It is essential for buyers to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of VOC Saminathan Street?

The current guideline value of VOC Saminathan 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 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024, marking a 10% increase. It was Rs 1,675 per sq.ft in 2017 and Rs 2,500 per sq.ft in 2012.

Are there any revisions without figures for VOC Saminathan Street?

Yes, the register has no figures for VOC Saminathan Street for the years 2002, 2003, and 2007.

What are the stamp duty and registration fees for properties on this street?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft property at the current guideline value, the total fees would be Rs 2,47,500.

Which office handles registrations for VOC Saminathan Street?

The Tambaram Joint 1 Sub Registrar Office handles registrations for VOC Saminathan Street, located at No.26, mes Road, East Tambaram, Chennai-600059.