Guideline Value for IOB Colony 4th Main Road

IOB Colony 4th Main Road guideline value

The current guideline value of IOB Colony 4th 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 4th Main Road has changed

The guideline value for IOB Colony 4th Main Road has undergone several revisions over the years. The 2012 revision set the value at Rs 3,300 per sq.ft, which was then reduced to Rs 2,211 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 3,300 per sq.ft, and the most recent 2024 revision has set it at Rs 3,500 per sq.ft.

In terms of percentage changes, the guideline value increased by 6% from 2023 to 2024. There was a significant increase of 49% from 2017 to 2023. However, the value saw a decrease of 33% from 2012 to 2017. 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 for these streets is Rs 2,200 per sq.ft, placing IOB Colony 4th Main Road above this median.

• IOB Colony 3rd Main Road: Rs 3,500 per sq.ft (2024)
• IOB Colony 2nd 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 4th 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 be Rs 2,45,000, and the registration fee at 2% would be Rs 70,000, bringing the total 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers IOB Colony 4th Main Road?

The Sub Registrar Office covering IOB Colony 4th 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 for more details.

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

The guideline value is a crucial factor when registering property in Selaiyur. It is used to determine the stamp duty and registration fees applicable during the transaction. Buyers and sellers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value helps in ensuring compliance with local regulations and aids in the smooth processing of property transactions. It is essential for both parties to be informed about the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of IOB Colony 4th Main Road?

The current guideline value of IOB Colony 4th 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, representing a 6% increase. It was Rs 2,211 per sq.ft in 2017, showing a 49% increase from 2017 to 2023.

Where can I find the Selaiyur Sub Registrar Office?

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

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, for a 1,000 sq.ft plot at Rs 3,500 per sq.ft, the total fees would amount to Rs 3,15,000.

What is the land classification for IOB Colony 4th Main Road?

IOB Colony 4th Main Road is classified as Residential Special Type - IV, which is relevant for understanding its usage and value in property transactions.