Guideline Value for Defence Colony

Defence Colony guideline value

The current guideline value of Defence Colony in Sekkadu village under the Avadi SRO is Rs 1,075 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - II.

How the guideline value of Defence Colony has changed

Looking at the revisions over the years, the guideline value for Defence Colony has seen several changes. The 2012 revision set the value at Rs 1,000 per sq.ft, which then decreased to Rs 670 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,000 per sq.ft in 2023 and further to Rs 1,075 per sq.ft in the 2024 revision. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2017 to 2023, there was a significant increase of 49%, while the change from 2012 to 2017 was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Sekkadu

In Sekkadu, there are 56 streets under the Avadi SRO with a 2024 guideline value ranging from Rs 930 to Rs 4,800 per sq.ft, with a median value of Rs 1,320 per sq.ft. The guideline value for Defence Colony is below this median.

• Devarajan Nagar: Rs 1,075 per sq.ft (2024)
• C.S.I. School Street: Rs 1,320 per sq.ft (2024)
• Dhanalakshmi Nagar: Rs 1,320 per sq.ft (2024)
• Dhanalakshmi Nagar Annuxe: Rs 1,320 per sq.ft (2024)
• Driver's Colony: Rs 1,320 per sq.ft (2024)
• D.R.P. Nagar: Rs 2,250 per sq.ft (2024)

Stamp duty and registration fee for property in Defence Colony

For a 1,000 sq.ft plot at the current rate of Rs 1,075 per sq.ft, the guideline value amounts to Rs 10,75,000. The stamp duty at 7% would be Rs 75,250, and the registration fee at 2% would be Rs 21,500, totaling Rs 96,750. It is important to note that the 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?

The Defence Colony is covered by the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Sekkadu. It serves as the basis for calculating the stamp duty and registration fees during the registration process. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements.

When purchasing property, the guideline value helps determine the minimum price at which the property can be registered. It is essential for buyers to consider this value when negotiating the sale price to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Defence Colony?

The current guideline value of Defence Colony is Rs 1,075 per sq.ft, effective from 1 July 2024.

How 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 to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,075 per sq.ft in 2024.

What is the land classification of Defence Colony?

Defence Colony is classified as Residential Class II Type - II.

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

For a property valued at Rs 10,75,000, the stamp duty would be Rs 75,250, and the registration fee would be Rs 21,500, totaling Rs 96,750.

Which office handles registrations for Defence Colony?

The Avadi Sub Registrar Office handles registrations for Defence Colony, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.