Guideline Value for VOC nagar 3rd street

VOC nagar 3rd street guideline value

The current guideline value of VOC nagar 3rd 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 3rd street has changed

The guideline value for VOC nagar 3rd street has undergone several revisions over the years. In 2007, the value was Rs 1,200 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012, marking a rise of 233%. However, it then decreased to Rs 2,680 per sq.ft in 2017, reflecting a drop of 33%. The value saw a substantial increase to Rs 4,000 per sq.ft in 2023, followed by a further increase to Rs 4,400 per sq.ft in 2024, which is a rise of 10% from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 267%. The changes between the revisions highlight the fluctuations in the property values in this area, with the most notable rise occurring between 2007 and 2012 and again in the recent years from 2023 to 2024.

Guideline values in Ayanavaram

Ayanavaram village has a total of 369 streets under the AnnaNagar SRO, with the 2024 guideline values ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, placing VOC nagar 3rd street's current value below this median.

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

Stamp duty and registration fee for property in VOC nagar 3rd street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total cost for these fees to Rs 3,96,000. 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 more detailed calculations.

Which Sub Registrar Office covers VOC nagar 3rd street?

The VOC nagar 3rd street falls under the jurisdiction of 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 further assistance.

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

The guideline value is a crucial factor during the registration of properties in Ayanavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable when a property is bought or sold. Buyers and sellers must refer to the guideline value to ensure compliance with local regulations and to understand the financial implications of their transactions.

When a property is registered, the guideline value is used to calculate the stamp duty, which is a percentage of the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value of VOC nagar 3rd street?

The current guideline value of VOC nagar 3rd 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 1,200 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 267% over the years.

What is the median guideline value for streets in Ayanavaram?

The median guideline value for streets in Ayanavaram is Rs 4,900 per sq.ft, which is higher than the current value of VOC nagar 3rd street.

Where can I find the registration office for VOC nagar 3rd street?

The registration office for VOC nagar 3rd street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in VOC nagar 3rd street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 44,00,000, the stamp duty at 7% would be Rs 3,08,000.