Guideline Value for Indian Bank Colony 5th Street

Indian Bank Colony 5th Street guideline value

The current guideline value of Indian Bank Colony 5th Street is Rs 4,000 per sq.ft, effective from 1 July 2024. This street is located in Ambattur village under the Ambattur SRO, and it falls under the land classification of Residential Special Type - II.

How the guideline value of Indian Bank Colony 5th Street has changed

Since the 2012 revision, the guideline value for Indian Bank Colony 5th Street has seen various changes. In 2012, the value was Rs 3,700 per sq.ft, which decreased to Rs 2,479 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 3,700 per sq.ft, representing a 49% rise. The most recent revision in 2024 set the value at Rs 4,000 per sq.ft, an increase of 8% from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Ambattur

In Ambattur village, there are 448 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,400 to Rs 8,209 per sq.ft. The median guideline value for these streets is Rs 3,600 per sq.ft, making the 2024 figure for Indian Bank Colony 5th Street above the median.

• Indian Bank Colony 4th Street: Rs 4,000 per sq.ft (2024)
• Indian Bank Colony 4th Cross Street: Rs 4,000 per sq.ft (2024)
• Indian Bank Colony (Ragavendra Street): Rs 4,000 per sq.ft (2024)
• Indian Bank Colony 3rd Street: Rs 4,000 per sq.ft (2024)
• Indian Bank Colony (TNSCB): Rs 4,000 per sq.ft (2024)
• Indian Bank Colony 3rd Cross Street: Rs 4,000 per sq.ft (2024)

Stamp duty and registration fee for property in Indian Bank Colony 5th Street

For a 1,000 sq.ft plot at the current rate of Rs 4,000 per sq.ft, the guideline value amounts to Rs 40,00,000. The stamp duty at 7% would be Rs 2,80,000, and the registration fee at 2% would be Rs 80,000, making the total Rs 3,60,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Indian Bank Colony 5th Street?

The Sub Registrar Office that covers Indian Bank Colony 5th Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Ambattur. It determines the minimum value at which properties can be registered, ensuring compliance with local regulations.

When buying or selling property, the guideline value serves as a reference point for calculating stamp duty and registration fees. Buyers must be aware that the duty is charged on the higher of the guideline value and the sale price.

Frequently asked questions

What is the current guideline value for Indian Bank Colony 5th Street?

The current guideline value for Indian Bank Colony 5th Street is Rs 4,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,700 per sq.ft in 2012 to Rs 2,479 per sq.ft in 2017, then back to Rs 3,700 per sq.ft in 2023, and finally to Rs 4,000 per sq.ft in 2024.

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

The stamp duty is calculated at 7% of the guideline value, and the registration fee is at 2%. For a 1,000 sq.ft plot, the total cost would be Rs 3,60,000.

Which office handles property registrations for Indian Bank Colony 5th Street?

The Ambattur Sub Registrar Office handles property registrations for Indian Bank Colony 5th Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the land classification for Indian Bank Colony 5th Street?

Indian Bank Colony 5th Street is classified as Residential Special Type - II, indicating its suitability for residential development.