Guideline Value for Defence Colony 1to 8 Streets

Defence Colony 1to 8 Streets guideline value

The current guideline value for Defence Colony 1to 8 Streets in Nandhivaram village is Rs 1,500 per sq.ft, effective from 1 July 2024. This area falls under the Gooduvancheri SRO and is classified as Residential Special Type - I.

How the guideline value of Defence Colony 1to 8 Streets has changed

Since the 2002 revision, the guideline value for Defence Colony 1to 8 Streets has seen significant changes. In 2002, the guideline value was Rs 121 per sq.ft, which increased to Rs 328 per sq.ft in 2007, marking a rise of 171%. The 2012 revision set the value at Rs 1,500 per sq.ft, reflecting a substantial increase of 357% from the previous figure. However, this value dropped to Rs 1,005 per sq.ft in 2017, a decrease of 33%. The value remained at Rs 1,500 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years.

Overall, from 2002 to 2024, the guideline value has increased by 1,140%, reaching the current figure of Rs 1,500 per sq.ft. It is important to note that the register has no figure for the year 2003 for this street.

Guideline values in Nandhivaram

Nandhivaram village features 169 streets under the Gooduvancheri SRO, with a 2024 guideline value range from Rs 1,000 to Rs 3,500 per sq.ft. The median value is Rs 1,500 per sq.ft, which is equal to the current guideline value for Defence Colony 1to 8 Streets.

• Defence Colony 3rd Cross Street: Rs 1,500 per sq.ft (2024)
• Defence Colony 9th Cross Street: Rs 1,500 per sq.ft (2024)
• Devaraj Nagar: Rs 1,200 per sq.ft (2024)
• Cowsiya Colony: Rs 1,500 per sq.ft (2024)
• Dhanalakshmi Nagar: Rs 1,200 per sq.ft (2024)
• Dhanalakshmi Nagar Extn.: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Defence Colony 1to 8 Streets

For a 1,000 sq.ft plot at the current rate of Rs 1,500 per sq.ft, the guideline value amounts to Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, totaling Rs 1,35,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Defence Colony 1to 8 Streets?

The Defence Colony 1to 8 Streets are covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions in Nandhivaram. It serves as the basis for calculating stamp duty and registration fees, which are mandatory when registering property. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction process.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Defence Colony 1to 8 Streets?

The current guideline value for Defence Colony 1to 8 Streets is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 121 per sq.ft in 2002 to Rs 1,500 per sq.ft in 2024, reflecting an overall increase of 1,140% over this period.

What is the stamp duty rate for properties in Defence Colony 1to 8 Streets?

The stamp duty rate for properties in Defence Colony 1to 8 Streets is 7% of the guideline value or sale price, whichever is higher.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is the guideline value determined for properties in Nandhivaram?

The guideline value for properties in Nandhivaram is determined by the Registration Department's guideline value register, which is revised periodically based on various factors, including location and land classification.