Guideline Value for VOC Street / Ambedkar Nagar

VOC Street / Ambedkar Nagar guideline value

The current guideline value for VOC Street / Ambedkar Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal Sub Registrar Office (SRO), and is classified as Commercial Class I Type - II.

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

The guideline value for VOC Street / Ambedkar Nagar has undergone significant changes over the years. Starting from Rs 154 per sq.ft in 2002, it increased to Rs 175 per sq.ft in 2003, marking a 14% rise. The value then saw a 49% increase to Rs 260 per sq.ft in 2007. Following that, the guideline value surged dramatically by 544% to Rs 1,675 per sq.ft in 2017. The 2023 revision set the value at Rs 2,500 per sq.ft, reflecting a 49% increase from the previous revision. The most recent revision in 2024 raised the value to Rs 2,750 per sq.ft, a 10% increase from 2023.

It is important to note that there is no figure available for VOC Street / Ambedkar Nagar in the 2012 revision. Overall, from 2002 to 2024, the guideline value has increased by 1,686%.

Guideline values in Pammal

Pammal village has 926 streets under the Pammal SRO with a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,090 per sq.ft, placing VOC Street / Ambedkar Nagar above this median.

• 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)
• VOC Nagar/Aravindan Street: Rs 2,750 per sq.ft (2024)
• 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)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty, calculated at 7%, would be Rs 1,92,500, while the registration fee at 2% would be Rs 55,000, bringing the total cost to Rs 2,47,500. Stamp duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers VOC Street / Ambedkar Nagar?

The VOC Street / Ambedkar Nagar area is covered by 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 details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Pammal. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements.

During property transactions, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

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

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

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 154 per sq.ft to Rs 2,750 per sq.ft in 2024, representing an overall increase of 1,686%.

What are the other streets in Pammal with similar guideline values?

Other streets in Pammal with similar guideline values include VOC Street / Mungil Lake and VOC Nagar/Aravindan Street, both at Rs 2,750 per sq.ft in 2024.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. You can find more details online.