Guideline Value for I.O.B. Staff College

I.O.B. Staff College guideline value

The current guideline value for I.O.B. Staff College in Thirumangalam village, under the AnnaNagar SRO, is Rs 11,500 per sq.ft, effective from 1 July 2024. This property falls under the Residential Special Type - I land classification.

How the guideline value of I.O.B. Staff College has changed

The guideline value for I.O.B. Staff College has seen significant changes over the years. In 2007, the guideline value was Rs 3,100 per sq.ft. This increased dramatically to Rs 10,500 per sq.ft in 2012, marking a 239% rise. However, from 2012 to 2017, it decreased to Rs 7,035 per sq.ft, a drop of 33%. By 2023, the value rose again to Rs 10,500 per sq.ft, and in the latest revision for 2024, it stands at Rs 11,500 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 271%. The revisions for the years 2002 and 2003 have no figures recorded for this street.

Guideline values in Thirumangalam

In Thirumangalam, there are 149 streets under the AnnaNagar SRO that carry a guideline value for 2024, ranging from Rs 3,300 to Rs 15,900 per sq.ft. The median guideline value is Rs 11,500 per sq.ft, which is equal to the current value for I.O.B. Staff College. Below are other streets in Thirumangalam with their respective guideline values:

• H Block west 9th Street: Rs 11,500 per sq.ft (2024)
• H Block west 8th Street: Rs 11,500 per sq.ft (2024)
• H Block west 7th Street: Rs 11,500 per sq.ft (2024)
• H Block west 6th Street: Rs 11,500 per sq.ft (2024)
• H Block west 5th Street: Rs 11,500 per sq.ft (2024)
• H Block west 4th Street: Rs 11,500 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 11,500 per sq.ft, the total guideline value would be Rs 1,15,00,000. The stamp duty at 7% would be Rs 8,05,000, and the registration fee at 2% would be Rs 2,30,000, bringing the total fees together to Rs 10,35,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers I.O.B. Staff College?

The I.O.B. Staff College is covered by the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Thirumangalam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements during the registration process.

When registering a property, the guideline value is compared against the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value for I.O.B. Staff College?

The current guideline value for I.O.B. Staff College is Rs 11,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 3,100 per sq.ft in 2007 to Rs 11,500 per sq.ft in 2024, reflecting an overall increase of 271% over the years.

What is the land classification for I.O.B. Staff College?

The land classification for I.O.B. Staff College is Residential Special Type - I.

Where is the AnnaNagar Sub Registrar Office located?

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

How is the stamp duty calculated for properties in Thirumangalam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 1,15,00,000 would incur a stamp duty of Rs 8,05,000 at 7%.