Guideline Value for VOC nagar Ist street

VOC nagar Ist street guideline value

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

How the guideline value of VOC nagar Ist street has changed

The guideline value for VOC nagar Ist street has undergone several revisions over the years. In 2007, the guideline value was Rs 1,200 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in 2012, marking a rise of 233%. However, the value dropped to Rs 2,680 per sq.ft in 2017, a decrease of 33%. The value then increased to Rs 4,000 per sq.ft in 2023, followed by a further rise to Rs 4,400 per sq.ft in 2024, reflecting a 10% increase.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 267%.

Guideline values in Ayanavaram

In Ayanavaram, there are 369 streets under the AnnaNagar SRO, with 2024 guideline values ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median guideline value is Rs 4,900 per sq.ft, which means VOC nagar Ist street's current value is below that median.

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

Stamp duty and registration fee for property in VOC nagar Ist 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, making the total cost for these fees 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers VOC nagar Ist street?

The VOC nagar Ist 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 more details.

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

The guideline value is a crucial factor in the registration of property transactions in Ayanavaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value must be considered as it affects the overall cost of the transaction. Buyers should be aware that the stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price, which can significantly impact the total expenditure involved in the property transaction.

Frequently asked questions

What is the current guideline value of VOC nagar Ist street?

The current guideline value of VOC nagar Ist 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 are the other guideline values in Ayanavaram?

In Ayanavaram, the guideline values range from Rs 2,700 to Rs 20,000 per sq.ft, with a median value of Rs 4,900 per sq.ft. VOC nagar Ist street's value is below this median.

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

The stamp duty for properties in VOC nagar Ist street is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 3,08,000.

Where is the AnnaNagar Sub Registrar Office located?

The AnnaNagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037. This office handles registrations for VOC nagar Ist street.