Guideline Value for AIRPORT COLONY EXTENSION

Airport Colony Extension guideline value

The current guideline value of Airport Colony Extension is Rs 6,700 per sq.ft, effective from 1 July 2024. This area is located in Chembakkam village under the Selaiyur SRO, classified as Residential Class V Type - V.

How the guideline value of Airport Colony Extension has changed

The guideline value for Airport Colony Extension has seen significant changes over the years. In 2017, the value was Rs 4,175 per sq.ft, which increased to Rs 6,235 per sq.ft in 2023, marking a substantial rise of 49%. The most recent revision in 2024 set the value at Rs 6,700 per sq.ft, reflecting a 7% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 60%. There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,700 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Airport Colony Extension's 2024 figure above this median.

• Airport Colony: Rs 950 per sq.ft (2024)
• Airport Exployee Colony 1st Street: Rs 950 per sq.ft (2024)
• Airport Exployee Colony 2nd Street: Rs 950 per sq.ft (2024)
• Agasthiar Street: Rs 950 per sq.ft (2024)
• Adhi Parnthamanar Street: Rs 850 per sq.ft (2024)
• Ambal Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Airport Colony Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 6,700 per sq.ft, the guideline value amounts to Rs 67,00,000. The stamp duty at 7% would be Rs 4,69,000, and the registration fee at 2% would be Rs 1,34,000, bringing the total to Rs 6,03,000. 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 Airport Colony Extension?

The Sub Registrar Office that covers Airport Colony Extension 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 Chembakkam

The guideline value is a crucial factor in the registration process of property transactions in Chembakkam. It serves as a benchmark for calculating the stamp duty and registration fees that are payable when a property is bought or sold.

When registering a property, the guideline value will be used to determine the applicable duties, ensuring that the transaction is recorded accurately in the official records. This helps maintain transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Airport Colony Extension?

The current guideline value of Airport Colony Extension is Rs 6,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 4,175 per sq.ft to Rs 6,700 per sq.ft in 2024, marking an overall increase of 60%.

What are the guideline values for other streets in Chembakkam?

Other streets in Chembakkam have varying guideline values, with the lowest being Rs 850 per sq.ft and the highest at Rs 6,700 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft.

What is the stamp duty rate for properties in Airport Colony Extension?

The stamp duty rate for properties in Airport Colony Extension is 7% of the guideline value or the sale price, whichever is higher.

Where is the Selaiyur Sub Registrar Office located?

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