Guideline Value for Airmen Colony

Airmen Colony guideline value

The current guideline value of Airmen Colony, located in Selaiyur village under the Selaiyur SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class IV Type - I.

How the guideline value of Airmen Colony has changed

The guideline value for Airmen Colony has seen several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value back to Rs 1,000 per sq.ft, and the most recent 2024 revision raised it further to Rs 1,100 per sq.ft.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023, and by 10% from 2023 to 2024. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO, with the 2024 guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, making the guideline value of Airmen Colony below this median.

• Airmen Enclave Street: Rs 1,100 per sq.ft (2024)
• Agasthiyar Street: Rs 2,200 per sq.ft (2024)
• Agaramthen Road: Rs 2,750 per sq.ft (2024)
• Agaram Road Profesor Colony 2nd Street: Rs 3,500 per sq.ft (2024)
• Agaram Road Profesor Colony 1st Street: Rs 3,500 per sq.ft (2024)
• Agaram Road Profesor Colony: Rs 3,500 per sq.ft (2024)

Stamp duty and registration fee for property in Airmen Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty is charged at 7%, which would be Rs 77,000, and the registration fee is 2%, amounting to Rs 22,000. Together, the total cost for stamp duty and registration fee would be Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Airmen Colony?

The Sub Registrar Office that covers Airmen Colony 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 during the registration of property transactions in Selaiyur. It serves as the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps determine the applicable fees and taxes. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Airmen Colony?

The current guideline value of Airmen Colony is Rs 1,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 in 2023, and finally to Rs 1,100 in 2024.

What is the land classification of Airmen Colony?

Airmen Colony is classified as Residential Class IV Type - I, which indicates its intended use for residential purposes.

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.

How is stamp duty calculated in Airmen Colony?

Stamp duty in Airmen Colony is charged at 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2% on the guideline value.