Guideline Value for Bank of Baroda Colony

Bank of Baroda Colony guideline value

The current guideline value of Bank of Baroda Colony, located in Madipakkam-1 village under the Velacheri SRO, is Rs 2,200 per sq.ft as per the 2024 revision effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Bank of Baroda Colony has changed

In the 2023 revision, the guideline value for Bank of Baroda Colony was Rs 2,000 per sq.ft. The increase from 2023 to 2024 is 10%, bringing the current value to Rs 2,200 per sq.ft. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

Thus, the revisions with figures for this street are only for 2023 and 2024. The guideline value has seen a consistent increase in recent years, reflecting changes in the property landscape.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. The guideline value for Bank of Baroda Colony is below this median.

• Bank of Baroda Colony Extn: Rs 2,200 per sq.ft (2024)
• Bank of Baroda Colony Main Road: Rs 2,200 per sq.ft (2024)
• Bank of Baroda Colony, Sethupathy Nagar: Rs 2,200 per sq.ft (2024)
• Banu Ayya Garden: Rs 2,200 per sq.ft (2024)
• B.A. Natarajan Street: Rs 2,750 per sq.ft (2024)
• Barathiar Street: Rs 2,200 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, resulting in a total of Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bank of Baroda Colony?

The Sub Registrar Office covering Bank of Baroda Colony is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, visit find your SRO.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor during property registration in Madipakkam-1. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a benchmark for the transaction. Buyers and sellers must consider this value to understand the financial implications of their property dealings, including the associated costs for registration.

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 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value changed from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, marking a 10% increase. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002 for this street.

What is the classification of Bank of Baroda Colony?

Bank of Baroda Colony is classified as Residential Class II Type - I. This classification affects the guideline value and property regulations in the area.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, on a property valued at Rs 22,00,000, the total stamp duty and registration fees would amount to Rs 1,98,000.

Where can I find the Sub Registrar Office for Bank of Baroda Colony?

The Sub Registrar Office for Bank of Baroda Colony is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find more information by visiting the find your SRO page.