Guideline Value for I.O.B. COLONY

I.O.B. Colony guideline value

The current guideline value of I.O.B. Colony in Kakkalur village, under the Tiruvallur Joint 1 SRO, is Rs 800 per sq.ft as per the 2024 revision, effective from 1 July 2024. The land classification for this area is Residential Class II Type - II.

How the guideline value of I.O.B. Colony has changed

The guideline value for I.O.B. Colony has seen several revisions over the years. The 2012 revision set the value at Rs 800 per sq.ft, which remained unchanged in the subsequent 2017 revision. However, the 2017 figure was Rs 536 per sq.ft, indicating a decrease of 33% from the previous revision. The value then increased significantly by 49% to Rs 800 per sq.ft in the 2023 revision, which remained the same in the 2024 revision, showing no change from the previous year.

Notably, there are no figures available for the years 2002, 2003, and 2007 for this street in the register. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 800 per sq.ft.

Guideline values in Kakkalur

Kakkalur village has a total of 133 streets under the Tiruvallur Joint 1 SRO, with the 2024 guideline values ranging from Rs 400 to Rs 3,000 per sq.ft. The median guideline value in this area is Rs 626 per sq.ft, placing I.O.B. Colony's 2024 figure above this median.

• Indira Gandhi Salai: Rs 626 per sq.ft (2024)
• Indian Bank Nagar& Annex: Rs 626 per sq.ft (2024)
• Jai Nagar Part.,I,II,III: Rs 626 per sq.ft (2024)
• Indian Bank Colony: Rs 626 per sq.ft (2024)
• Hai Mathaji Nagar: Rs 626 per sq.ft (2024)
• Green Gold Lay Out: Rs 626 per sq.ft (2024)

Stamp duty and registration fee for property in I.O.B. Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value amounts to Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, bringing the total fees to Rs 72,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers I.O.B. Colony?

The I.O.B. Colony falls under the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for further assistance.

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

When buying or selling property in Kakkalur, the guideline value is a crucial factor in determining the registration fees. This value is set by the government and is used to assess the stamp duty payable during the registration of the property.

It is essential for buyers and sellers to be aware of the current guideline value as it affects the overall cost of the transaction. Accurate knowledge of this value can help in understanding the financial implications of property transactions in the area.

Frequently asked questions

What is the current guideline value of I.O.B. Colony?

The current guideline value of I.O.B. Colony is Rs 800 per sq.ft as per the 2024 revision, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for I.O.B. Colony has remained unchanged at Rs 800 per sq.ft from 2012 to 2024, with a significant increase of 49% from Rs 536 per sq.ft in 2017 to Rs 800 per sq.ft in 2023.

What are the other streets in Kakkalur with their guideline values?

Other streets in Kakkalur under the Tiruvallur Joint 1 SRO have guideline values ranging from Rs 400 to Rs 3,000 per sq.ft. The median value is Rs 626 per sq.ft, while I.O.B. Colony's value is above this median.

What are the stamp duty and registration fees for I.O.B. Colony?

The stamp duty for a property valued at Rs 8,00,000 in I.O.B. Colony would be Rs 56,000 at 7%, and the registration fee would be Rs 16,000 at 2%, totaling Rs 72,000.

Which Sub Registrar Office covers I.O.B. Colony?

The Tiruvallur Joint 1 Sub Registrar Office covers I.O.B. Colony, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.