Guideline Value for VOC nagar 2nd street

VOC nagar 2nd street guideline value

The current guideline value of VOC nagar 2nd street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Ayanavaram village under the AnnaNagar SRO, classified as Residential Class II Type - I.

How the guideline value of VOC nagar 2nd street has changed

The guideline value for VOC nagar 2nd street has undergone several revisions over the years. In 2002, the value was Rs 745 per sq.ft, which increased to Rs 836 per sq.ft in 2003, marking a 12% rise. By 2007, the value saw a significant jump to Rs 1,200 per sq.ft, reflecting a 44% increase. The 2012 revision brought the value back to Rs 4,000 per sq.ft, a rise of 233% from the previous figure. However, in 2017, the value decreased to Rs 2,680 per sq.ft, which was a decline of 33% from the 2012 figure. The 2023 revision set the value at Rs 4,000 per sq.ft, followed by a 10% increase to Rs 4,400 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 491%. There are no figures available for revisions in years other than those stated.

Guideline values in Ayanavaram

Ayanavaram village has 369 streets under the AnnaNagar SRO with a 2024 guideline value ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, placing VOC nagar 2nd street's 2024 figure below that median.

• VOC nagar 2nd cross Street: Rs 4,400 per sq.ft (2024)
• VOC nagar 3rd cross Street: Rs 4,400 per sq.ft (2024)
• VOC nagar 3rd street: Rs 4,400 per sq.ft (2024)
• VOC nagar 4th cross Street: Rs 4,400 per sq.ft (2024)
• VOC nagar 4th street: Rs 4,400 per sq.ft (2024)
• VOC nagar 5th street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in VOC nagar 2nd street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers VOC nagar 2nd street?

The Sub Registrar Office that covers VOC nagar 2nd street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Ayanavaram. It serves as a benchmark for determining the minimum value of a property for registration purposes. When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately and fairly in the official registers.

During the registration process, the stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions, reflecting the value of the property being transferred.

Frequently asked questions

What is the current guideline value of VOC nagar 2nd street?

The current guideline value of VOC nagar 2nd street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 745 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 491% over the years.

What are the stamp duty and registration fees for properties in VOC nagar 2nd street?

The stamp duty for a property valued at Rs 44,00,000 would be Rs 3,08,000, and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office covers this street?

The AnnaNagar Sub Registrar Office covers VOC nagar 2nd street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the guideline value determined for properties in Ayanavaram?

The guideline value is determined by the Registration Department and is based on various factors, including land classification and location. It is revised periodically to reflect changes in the real estate market.