Guideline Value for VOC Street / Muthamzhi Nagar

VOC Street / Muthamzhi Nagar guideline value

The current guideline value for VOC Street / Muthamzhi Nagar is Rs 2,475 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class I Type - II.

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

The guideline value for VOC Street / Muthamzhi Nagar has seen significant changes over the years. In 2002, the value was Rs 242 per sq.ft, which increased to Rs 274 per sq.ft in 2003, marking a 13% rise. The value then rose to Rs 360 per sq.ft in 2007, reflecting a 31% increase. The 2017 revision saw a substantial jump to Rs 1,507 per sq.ft, a remarkable 319% increase from the previous revision. Following this, the 2023 revision set the value at Rs 2,250 per sq.ft, which was a 49% increase. The most recent revision in 2024 has further raised the guideline value to Rs 2,475 per sq.ft, a 10% increase from 2023.

It is important to note that the register has no figure for this street in 2012. Overall, from 2002 to 2024, the guideline value has increased by 923%.

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 of 2024. The median guideline value in Pammal is Rs 2,090 per sq.ft, placing the 2024 figure for VOC Street / Muthamzhi Nagar above this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,475 per sq.ft, the total guideline value would be Rs 24,75,000. The stamp duty at 7% would amount to Rs 1,73,250, and the registration fee at 2% would be Rs 49,500, bringing the total to Rs 2,22,750. It is important to note that the 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 / Muthamzhi Nagar?

The Sub Registrar Office covering VOC Street / Muthamzhi Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration of property transactions in Pammal. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction. This ensures that the fees are calculated based on a standardized value set by the government.

It is important for buyers and sellers to be aware of the guideline value as it affects the overall cost of the transaction. Proper understanding of this value can help in budgeting for additional costs associated with property registration.

Frequently asked questions

What is the current guideline value for VOC Street / Muthamzhi Nagar?

The current guideline value for VOC Street / Muthamzhi Nagar is Rs 2,475 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased significantly over the years, from Rs 242 per sq.ft in 2002 to Rs 2,475 per sq.ft in 2024, reflecting an overall increase of 923%.

What is the median guideline value in Pammal?

The median guideline value in Pammal is Rs 2,090 per sq.ft, which is lower than the current guideline value for VOC Street / Muthamzhi Nagar.

What are the stamp duty rates for property in VOC Street / Muthamzhi Nagar?

The stamp duty rate for property transactions in VOC Street / Muthamzhi Nagar is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.