Guideline Value for Bank of Baroda Colony

Bank of Baroda Colony guideline value

The current guideline value of Bank of Baroda Colony is Rs 7,600 per sq.ft, effective from 1 July 2024. This area is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this colony is Residential Class I Type - III.

How the guideline value of Bank of Baroda Colony has changed

The guideline value for Bank of Baroda Colony has seen several revisions over the years. The earliest recorded figure is from 2007 at Rs 1,460 per sq.ft. This figure increased significantly to Rs 7,000 per sq.ft in 2012, marking a rise of 379%. However, in 2017, it dropped to Rs 4,690 per sq.ft, a decrease of 33%. The value then rose again to Rs 7,000 per sq.ft in 2023, and the current revision for 2024 has set it at Rs 7,600 per sq.ft, representing a 9% increase from the previous year.

There are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 421%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, placing Bank of Baroda Colony's 2024 figure above this median.

• Bank of India Colony: Rs 7,000 per sq.ft (2024)
• Balasubramaniam Street (Sunday Observer): Rs 4,900 per sq.ft (2024)
• Balasubramaniam Street (JPT)VOC Block: Rs 4,100 per sq.ft (2024)
• Baskaran Street: Rs 4,900 per sq.ft (2024)
• Balakrishnan Street (W.M): Rs 7,700 per sq.ft (2024)
• Balakrishnan Street (VOC Block): Rs 4,100 per sq.ft (2024)

Stamp duty and registration fee for property in Bank of Baroda Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 7,600 per sq.ft, the total guideline value amounts to Rs 76,00,000. The stamp duty at 7% would be Rs 5,32,000, and the registration fee at 2% would be Rs 1,52,000, making the total charges Rs 6,84,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bank of Baroda Colony?

The Bank of Baroda Colony is covered by the Ashok Nagar 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 Kodambakkam

The guideline value is a crucial factor in property transactions in Kodambakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must be aware that the guideline value affects the stamp duty and registration fees applicable during the transaction.

When a property is sold, the registration office uses the guideline value to calculate the applicable charges. This ensures that the transaction is recorded at a value that reflects the current market conditions, as assessed by the local authorities.

Frequently asked questions

What is the current guideline value of Bank of Baroda Colony?

The current guideline value of Bank of Baroda Colony is Rs 7,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,460 per sq.ft in 2007 to Rs 7,600 per sq.ft in 2024, reflecting an overall increase of 421% over the years.

What is the registration office for Bank of Baroda Colony?

The Ashok Nagar Sub Registrar Office covers Bank of Baroda Colony, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Bank of Baroda Colony?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, along with a registration fee of 2% of the guideline value.

What is the median guideline value for streets in Kodambakkam?

The median guideline value for streets in Kodambakkam is Rs 4,900 per sq.ft, with Bank of Baroda Colony's 2024 figure being above this median.