Guideline Value for VOC Street

VOC Street guideline value

The current guideline value of VOC Street in Kerugambakkam village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Pammal Sub Registrar Office (SRO) and is classified as Residential Class III Type - II.

How the guideline value of VOC Street has changed

The guideline value for VOC Street has seen several revisions over the years. The earliest figure available is from the 2017 revision, which was Rs 1,005 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 has set the guideline value at Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for VOC Street in the revisions from the years 2002, 2003, 2007, and 2012.

Guideline values in Kerugambakkam

In Kerugambakkam, there are 144 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 4,800 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of VOC Street is below this median.

• V.J. Nagar: Rs 1,980 per sq.ft (2024)
• Vtb Kuberan Garden: Rs 3,300 per sq.ft (2024)
• Visalakshi Nagar: Rs 1,980 per sq.ft (2024)
• Yes Vee Garden: Rs 4,185 per sq.ft (2024)
• Vijayalakshmi Nagar: Rs 1,840 per sq.ft (2024)
• Vigneshwara Nagar (ward 7): Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in VOC Street

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

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 Kerugambakkam

The guideline value plays a critical role in the registration process of property transactions in Kerugambakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transfer of property ownership.

When buying or selling property, the guideline value is used to calculate the applicable taxes and fees, ensuring that all transactions are conducted in accordance with the regulations set by the Registration Department. Buyers should be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of VOC Street?

The current guideline value of VOC Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,005 per sq.ft in 2017 to Rs 1,650 per sq.ft in 2024, representing an overall increase of 64% over these years.

What are the stamp duty and registration fees for property in VOC Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 1,48,500, based on the current rates.

Which office handles property registrations for VOC Street?

The Pammal Sub Registrar Office handles property registrations for VOC Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the significance of the guideline value in property transactions?

The guideline value is crucial as it determines the stamp duty and registration fees applicable during property transactions. It ensures that all property transfers are conducted according to the regulations set forth by the Registration Department.