Guideline Value for INDIAN BANK NAGAR& ANNEX

Indian Bank Nagar& Annex guideline value

The current guideline value for Indian Bank Nagar& Annex in Kakkalur village, under the Tiruvallur Joint 1 SRO, is Rs 626 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - III land classification.

How the guideline value of Indian Bank Nagar& Annex has changed

The guideline value for Indian Bank Nagar& Annex has seen several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 625 per sq.ft. This was followed by a decrease to Rs 419 per sq.ft in 2017, marking a decline of 33%. However, the value significantly increased by 49% to Rs 626 per sq.ft in 2023, and it remained the same in the 2024 revision.

Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has remained stable, showing an increase of 0% during this period.

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 value for these streets is Rs 626 per sq.ft, which is equal to the current guideline value for Indian Bank Nagar& Annex.

• Indian Bank Colony: 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 Nagar& Annex

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 charges 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 also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Indian Bank Nagar& Annex?

The Indian Bank Nagar& Annex area is covered by 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

The guideline value plays a crucial role during property transactions in Kakkalur, as it is used to calculate the stamp duty and registration fees. Buyers and sellers must consider the guideline value to ensure compliance with local regulations and to avoid any discrepancies during the registration process.

When a property is sold, the guideline value helps determine the minimum value at which the property can be registered. This ensures that the transaction is recorded accurately and that the appropriate taxes are collected based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Indian Bank Nagar& Annex?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 625 per sq.ft in 2012 to Rs 419 per sq.ft in 2017, then increased to Rs 626 per sq.ft in 2023, remaining the same in 2024.

What is the land classification for Indian Bank Nagar& Annex?

Indian Bank Nagar& Annex is classified as Residential Class II Type - III, which indicates its zoning for residential purposes.

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

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.

Which office handles registrations for Indian Bank Nagar& Annex?

The Tiruvallur Joint 1 Sub Registrar Office handles registrations for Indian Bank Nagar& Annex, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.