Guideline Value for VOC Street

VOC Street guideline value

The current guideline value of VOC Street in Anakaputhur village is Rs 1,760 per sq.ft, effective from 1 July 2024. This street falls under the Pammal Sub Registrar Office and is classified as Residential Class II Type - I.

How the guideline value of VOC Street has changed

The guideline value for VOC Street has undergone several revisions over the years. Starting from Rs 258 per sq.ft in 2002, it increased to Rs 216 per sq.ft in 2003, then to Rs 300 per sq.ft in 2007. The value saw a significant rise to Rs 1,072 per sq.ft in 2017, followed by an increase to Rs 1,600 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 1,760 per sq.ft, marking a 10% increase from the previous year.

Between the revisions, there have been notable changes. The increase from 2017 to 2023 was 49%, while the jump from 2007 to 2017 was 257%. The value rose by 39% from 2003 to 2007, but decreased by 16% from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by 582%. It is important to note that there is no figure for VOC Street in the 2012 revision.

Guideline values in Anakaputhur

In Anakaputhur, there are 501 streets under the Pammal SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 4,640 per sq.ft. The median value for these streets is Rs 1,980 per sq.ft, placing VOC Street's 2024 figure below that median.

• VOC Nagar 2nd Street: Rs 1,870 per sq.ft (2024)
• VOC Nagar 2nd Cross Street: Rs 1,870 per sq.ft (2024)
• VOC Nagar 1st Street: Rs 1,870 per sq.ft (2024)
• Vivekanadar Street (Balaji Nagar): Rs 2,350 per sq.ft (2024)
• Visveswarapuram: Rs 2,350 per sq.ft (2024)
• West Ratha Veethi: Rs 1,760 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 1,760 per sq.ft, the total guideline value would be Rs 17,60,000. The stamp duty at 7% would amount to Rs 1,23,200, and the registration fee at 2% would be Rs 35,200. Together, the total cost for these fees would be Rs 1,58,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers VOC Street?

The Sub Registrar Office that covers VOC Street is 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 information.

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

The guideline value is a critical factor when buying or selling property in Anakaputhur. It serves as a benchmark for determining the minimum value at which property transactions can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. These fees are essential for the legal transfer of property ownership and are based on the higher of the guideline value or the actual sale price.

Frequently asked questions

What is the current guideline value of VOC Street?

The current guideline value of VOC Street is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 258 per sq.ft in 2002 to Rs 1,760 per sq.ft in 2024, marking an overall increase of 582% over this period.

What is the median guideline value for streets in Anakaputhur?

The median guideline value for streets in Anakaputhur is Rs 1,980 per sq.ft, with VOC Street's 2024 value being below this median.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2% of the same value.

Where is the Sub Registrar Office for VOC Street located?

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