Guideline Value for VOC Street

VOC Street guideline value

The current guideline value of VOC Street, located in Mudichur village under the Padappai SRO, is Rs 1,210 per sq.ft, effective from 1 July 2024. This street 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. In the 2012 revision, the value was set at Rs 1,100 per sq.ft. This figure remained the same in the subsequent 2017 revision, where it increased to Rs 737 per sq.ft. However, from 2017 to 2023, the guideline value increased significantly by 49%, reaching Rs 1,100 per sq.ft. The most recent revision in 2024 saw another increase of 10%, bringing the current value to Rs 1,210 per sq.ft.

It is important to note that there are no figures available for VOC Street in the revisions of 2002, 2003, and 2007. Overall, comparing the 2012 figure to the 2024 figure, there has been a 10% increase.

Guideline values in Mudichur

Mudichur village has a total of 135 streets under the Padappai SRO, with guideline values ranging from Rs 880 to Rs 4,000 per sq.ft as per the 2024 revisions. The median guideline value in this area is Rs 2,200 per sq.ft, making the current value of VOC Street below this median.

• Vivekanandar Street: Rs 1,210 per sq.ft (2024)
• Vithiyammigai Street: Rs 1,210 per sq.ft (2024)
• Vidhyalakshmi Street: Rs 1,210 per sq.ft (2024)
• Venkatheri Nagar: Rs 1,210 per sq.ft (2024)
• Venkateswara Avenue: Rs 2,200 per sq.ft (2024)
• Venkatathri Nagar: 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 1,210 per sq.ft, the total guideline value amounts to Rs 12,10,000. The stamp duty, charged at 7%, would be Rs 84,700, while the registration fee at 2% would be Rs 24,200. Therefore, the total cost for stamp duty and registration fees would be Rs 1,08,900. It is important to note that 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 more details.

Which Sub Registrar Office covers VOC Street?

The Sub Registrar Office that covers VOC Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mudichur. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the transaction is recorded at a value that reflects the current market conditions.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable 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?

The current guideline value of VOC Street is Rs 1,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2012 to Rs 1,210 per sq.ft in 2024, reflecting a 10% increase overall since 2012.

What is the land classification for VOC Street?

VOC Street is classified as Residential Class II Type - I, indicating its use for residential purposes.

Where can I find the Sub Registrar Office for VOC Street?

The Sub Registrar Office covering VOC Street is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for property in VOC Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 12,10,000 would incur a stamp duty of Rs 84,700 at 7%.