Guideline Value for INDIAN BANK COLONY

Indian Bank Colony guideline value

The current guideline value of Indian Bank Colony in Kakkalur village is Rs 626 per sq.ft, effective from 1 July 2024. This area falls under the Tiruvallur Joint 1 SRO and is classified as Residential Class II Type - III.

How the guideline value of Indian Bank Colony has changed

Over the years, the guideline value of Indian Bank Colony has seen several revisions. The 2012 revision set the value at Rs 625 per sq.ft, which then decreased to Rs 419 per sq.ft in 2017. Following this, the value increased significantly to Rs 626 per sq.ft in both the 2023 and 2024 revisions, showing a 49% increase from 2017 to 2023. It is noteworthy that the register has no figures for the years 2002, 2003, and 2007 for this street.

Comparing the overall changes from 2012 to 2024, the guideline value has remained effectively the same at Rs 626 per sq.ft. The consistency in the values from 2023 to 2024 indicates no change, while the earlier revisions reflect a notable fluctuation in the guideline value.

Guideline values in Kakkalur

Kakkalur village has a total of 133 streets under the Tiruvallur Joint 1 SRO, with guideline values ranging from Rs 400 to Rs 3,000 per sq.ft. The median guideline value is Rs 626 per sq.ft, which is the same as the current value for Indian Bank Colony.

• Indian Bank Nagar& Annex: Rs 626 per sq.ft (2024)
• Indira Gandhi Salai: Rs 626 per sq.ft (2024)
• I.O.B. Colony: Rs 800 per sq.ft (2024)
• Hai Mathaji Nagar: Rs 626 per sq.ft (2024)
• Green Gold Lay Out: Rs 626 per sq.ft (2024)
• Jai Nagar Part.,I,II,III: Rs 626 per sq.ft (2024)

Stamp duty and registration fee for property in Indian Bank Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 626 per sq.ft, the total guideline value amounts to Rs 6,26,000. The stamp duty at 7% would be Rs 43,820, and the registration fee at 2% would be Rs 12,520, bringing the total fees to Rs 56,340. 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 more details.

Which Sub Registrar Office covers Indian Bank Colony?

The Indian Bank Colony is covered by the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration of property transactions in Kakkalur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value is used to calculate applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the costs involved in the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Indian Bank Colony?

The current guideline value of Indian Bank Colony is Rs 626 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent revisions being Rs 626 per sq.ft in both 2023 and 2024. The value was Rs 419 per sq.ft in 2017 and Rs 625 per sq.ft in 2012.

What is the land classification for Indian Bank Colony?

Indian Bank Colony is classified as Residential Class II Type - III, indicating its designation for residential purposes.

What are the stamp duty and registration fees for property in Indian Bank Colony?

For a property valued at Rs 6,26,000, the stamp duty would be Rs 43,820 and the registration fee would be Rs 12,520, totaling Rs 56,340.

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

The Tiruvallur Joint 1 Sub Registrar Office is located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find more information by visiting the appropriate link.