Guideline Value for DEFENCE COLONY ROAD

Defence Colony Road guideline value

The current guideline value of Defence Colony Road is Rs 6,600 per sq.ft, effective from 1 July 2024. This road is located in Ekkaduthangal village, under the Chennai South Joint I SRO, and is classified as Residential Class I Type - II.

How the guideline value of Defence Colony Road has changed

The guideline value for Defence Colony Road has undergone several revisions over the years. In 2002, the value was Rs 376 per sq.ft, which increased to Rs 434 per sq.ft in 2003. Following that, there was a significant rise to Rs 1,000 per sq.ft in 2007, and then a substantial jump to Rs 6,000 per sq.ft in 2012. However, it saw a decrease to Rs 4,020 per sq.ft in 2017, before climbing back to Rs 6,000 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 6,600 per sq.ft.

Between the revisions, the changes were as follows: from 2002 to 2003, the increase was +15%; from 2003 to 2007, it rose by +130%; from 2007 to 2012, there was a remarkable increase of +500%; however, from 2012 to 2017, it decreased by -33%. The value then increased by +49% from 2017 to 2023, and finally, a +10% rise was noted from 2023 to 2024. There are no years in the register that lack a figure for this street.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 3,080 to Rs 8,800 per sq.ft, with a median value of Rs 4,620 per sq.ft. The guideline value of Defence Colony Road is above this median.

• Damodaran Street: Rs 3,080 per sq.ft (2024)
• Dhanakodi Raja Street: Rs 4,620 per sq.ft (2024)
• Dhanapal Street: Rs 3,080 per sq.ft (2024)
• Chinnanathamman Street: Rs 3,520 per sq.ft (2024)
• Duraiswamy Street: Rs 4,620 per sq.ft (2024)
• Cart Track Road: Rs 8,250 per sq.ft (2024)

Stamp duty and registration fee for property in Defence Colony Road

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty, charged at 7%, would amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total fees together to Rs 5,94,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Defence Colony Road?

The Sub Registrar Office that covers Defence Colony Road is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

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

When a property is registered, the guideline value helps ensure that the transaction is recorded accurately and fairly. It serves as a benchmark for property transactions in the area, providing a standardized value for various properties.

Frequently asked questions

What is the current guideline value of Defence Colony Road?

The current guideline value of Defence Colony Road is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 376 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, reflecting a total increase of +1655% over the years.

What is the median guideline value in Ekkaduthangal?

The median guideline value in Ekkaduthangal is Rs 4,620 per sq.ft, with Defence Colony Road's value being above this median.

What are the stamp duty and registration fees for properties in Defence Colony Road?

For a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000 and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Where can I find the Sub Registrar Office for Defence Colony Road?

The Sub Registrar Office for Defence Colony Road is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.