Guideline Value for IOB Colony 3rd Main Road

IOB Colony 3rd Main Road guideline value

The current guideline value of IOB Colony 3rd Main Road is Rs 3,500 per sq.ft, effective from 1 July 2024. This road is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Special Type - IV.

How the guideline value of IOB Colony 3rd Main Road has changed

The guideline value for IOB Colony 3rd Main Road has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 3,500 per sq.ft, an increase from Rs 3,300 per sq.ft in 2023, marking a change of +6%. Prior to that, the 2017 revision recorded a value of Rs 2,211 per sq.ft, which reflects a significant increase of +49% from that year to 2023. The 2012 revision had a value of Rs 3,300 per sq.ft, which was a decrease of -33% from the 2017 figure.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by +6%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, placing the 2024 figure for IOB Colony 3rd Main Road above this median.

• IOB Colony 2nd Main Road: Rs 3,500 per sq.ft (2024)
• IOB Colony 4th Main Road: Rs 3,500 per sq.ft (2024)
• IOB Colony 1st Main Road: Rs 3,500 per sq.ft (2024)
• IOB Colony: Rs 3,500 per sq.ft (2024)
• Indira Nagar West: Rs 1,900 per sq.ft (2024)
• Indira Nagar P.K.P Sundaram Street: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in IOB Colony 3rd Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,500 per sq.ft, the total guideline value would be Rs 35,00,000. The stamp duty at 7% would amount to Rs 2,45,000, and the registration fee at 2% would be Rs 70,000, bringing the total fees to Rs 3,15,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your own fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers IOB Colony 3rd Main Road?

The Sub Registrar Office that covers IOB Colony 3rd Main Road is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO online.

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

The guideline value is a crucial factor during the registration of property transactions in Selaiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

Frequently asked questions

What is the current guideline value of IOB Colony 3rd Main Road?

The current guideline value of IOB Colony 3rd Main Road is Rs 3,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,300 per sq.ft in 2023 to Rs 3,500 per sq.ft in 2024. It was Rs 2,211 per sq.ft in 2017 and Rs 3,300 per sq.ft in 2012, showing various fluctuations over the years.

What is the land classification of IOB Colony 3rd Main Road?

IOB Colony 3rd Main Road is classified as Residential Special Type - IV.

Where is the Sub Registrar Office located for IOB Colony 3rd Main Road?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 35,00,000, the stamp duty would be Rs 2,45,000 at the rate of 7%.