Guideline Value

Corporate

Guideline Value for Bank Colony

₹2750/sq.ft.

The guideline value for Bank Colony in Madambakkam village (Selaiyur SRO, Chengalpattu zone) is Rs 2750 per sq.ft, effective 1 July 2024. The land classification is Commercial Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chengalpattu

Zone

Madambakkam

Village

Selaiyur

SRO

Commercial Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹2750 /sq.ft.
From 1-4-2023 N/A
From 9-6-2017 To 31-3-2023 N/A
From 1-4-2012 To 8-6-2017 ₹2500 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.36,bharathmatha Salai(opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur,chennai - 600 073.
044-22391102
[email protected]

DRO (District Registrar Office)

Tambaram District Registrar Office,no.47/8,venkatesan Street,tambaram (west),chennai- 600 045.
null
[email protected], [email protected]

DIG (Deputy Inspector General)

No 10., Kancheepuram High Road., Chenglepet
null
[email protected]
Records for a plot on Bank Colony

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Bank Colony guideline value

The current guideline value of Bank Colony in Madambakkam village, under the Selaiyur SRO, is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is classified as Commercial Class I Type - I.

How the guideline value of Bank Colony has changed

The guideline value for Bank Colony has undergone several revisions. The earliest recorded revision is from 2002, 2003, 2007, and 2017, for which the register has no figure for this street. The 2012 revision set the value at Rs 2,500 per sq.ft, which was later increased to Rs 2,750 per sq.ft in the 2024 revision, marking a 10% increase from the previous figure.

In summary, the 2012 revision was Rs 2,500 per sq.ft, and the latest revision in 2024 is Rs 2,750 per sq.ft. This increase reflects the adjustments made over the years, with the most recent revision being the only one with a specified figure for Bank Colony.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, placing Bank Colony's 2024 figure above that median.

Stamp duty and registration fee for property in Bank Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total charges to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bank Colony?

The Sub Registrar Office that covers Bank Colony is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to calculate the applicable duties, ensuring that both the buyer and seller are aware of the financial obligations involved in the transfer of ownership.

Frequently asked questions

What is the current guideline value of Bank Colony?

The current guideline value of Bank Colony is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 2,750 per sq.ft in 2024, reflecting a 10% increase. The register has no figures for the years 2002, 2003, 2007, 2017, and 2023.

What are the guideline values of other streets in Madambakkam?

Other streets in Madambakkam include Bank Colony 1st Street, Bank Colony 2nd Street, and Bank Colony 3rd Street, all valued at Rs 2,750 per sq.ft in 2024. Additionally, Balaji Nagar West Main Road, Balaji Nagar East Main Road, and Balaji Nagar 8th Street Malligai Iniya Illam are valued at Rs 2,200 per sq.ft.

How is stamp duty calculated for properties in Bank Colony?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,50,000, the stamp duty at 7% would be Rs 1,92,500.

Where is the Sub Registrar Office for Bank Colony located?

The Sub Registrar Office for Bank Colony is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073. This office is responsible for property registrations in the area.