Guideline Value for VOC nagar

VOC nagar guideline value

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

How the guideline value of VOC nagar has changed

The guideline value for VOC nagar has seen several revisions over the years. In 2002, the value was Rs 690 per sq.ft, which increased to Rs 836 per sq.ft in 2003, marking a 21% rise. By 2007, the value jumped to Rs 1,200 per sq.ft, reflecting a 44% increase. The 2012 revision saw the value rise to Rs 4,000 per sq.ft, a significant 233% increase from the previous revision. However, in 2017, the value decreased to Rs 2,680 per sq.ft, indicating a 33% drop. The guideline value then increased to Rs 4,000 per sq.ft in 2023, and the latest revision in 2024 has set the value at Rs 4,400 per sq.ft, representing a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 538%. There are no figures available for the revisions in years not listed for this street.

Guideline values in Ayanavaram

Ayanavaram has a total of 369 streets under the AnnaNagar SRO, with guideline values ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, placing VOC nagar's 2024 figure below that median.

• VOC nagar 2nd cross Street: Rs 4,400 per sq.ft (2024)
• VOC nagar 2nd 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)

Stamp duty and registration fee for property in VOC nagar

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, leading to a total of 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?

The Sub Registrar Office that covers VOC nagar is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the 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 plays a crucial role in the registration of property transactions in Ayanavaram. It is used to determine 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 considered the minimum value for registration purposes. This ensures that the transaction is recorded at a value that reflects the official rates set by the government.

Frequently asked questions

What is the current guideline value of VOC nagar?

The current guideline value of VOC nagar 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 690 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, showing an overall increase of 538% over this period.

What is the land classification of VOC nagar?

VOC nagar is classified as Residential Class II Type - I, indicating its designation for residential development.

What are the stamp duty rates for property in VOC nagar?

The stamp duty rate for property transactions in VOC nagar is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for VOC nagar located?

The Sub Registrar Office covering VOC nagar is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.