Guideline Value for Defence Colony

Defence Colony guideline value

The current guideline value of Defence Colony in Selaiyur village is Rs 950 per sq.ft, effective from 1 July 2024. This area falls under the Selaiyur Sub Registrar Office (SRO) and is classified as Residential Class IV Type - II.

How the guideline value of Defence Colony has changed

The guideline value for Defence Colony has seen several revisions over the years. In the 2012 revision, the value was set at Rs 900 per sq.ft. This was followed by a decrease to Rs 603 per sq.ft in the 2017 revision. The value then increased significantly to Rs 900 per sq.ft in the 2023 revision, and currently stands at Rs 950 per sq.ft from the 2024 revision. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Between the revisions, there have been notable changes. From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased by 49%. The overall change from 2012 to 2024 shows a modest increase of 6%.

Guideline values in Selaiyur

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

• C.S.T Santhamma Nagar: Rs 1,300 per sq.ft (2024)
• C.S.T Nagar Manimegalai Street Extn: Rs 1,300 per sq.ft (2024)
• Dhanalakshmi 1st Cross Street: Rs 2,400 per sq.ft (2024)
• Dhanalakshmi 2nd Cross Street: Rs 2,400 per sq.ft (2024)
• Dhanalakshmi 3rd Cross Street: Rs 2,400 per sq.ft (2024)
• Dhanalakshmi 4th Cross Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Defence Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 950 per sq.ft, the total guideline value would be Rs 9,50,000. The stamp duty at 7% would amount to Rs 66,500, and the registration fee at 2% would be Rs 19,000, bringing the total charges to Rs 85,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Defence Colony?

The Defence Colony is covered by 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Selaiyur. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the government records.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the transfer of ownership. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Defence Colony?

The current guideline value of Defence Colony is Rs 950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then to Rs 900 per sq.ft in 2023, and finally to Rs 950 per sq.ft in 2024.

What is the land classification for Defence Colony?

Defence Colony is classified as Residential Class IV Type - II under the Selaiyur SRO.

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

For a property valued at Rs 9,50,000, the stamp duty would be Rs 66,500 and the registration fee would be Rs 19,000, totaling Rs 85,500.

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.