Guideline Value for Deffence colony 1st Street

Deffence colony 1st Street guideline value

The current guideline value of Deffence colony 1st Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Moovarasampattu village and falls under the Alandur SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Deffence colony 1st Street has changed

The guideline value for Deffence colony 1st Street has undergone several revisions over the years. In 2002, the guideline value was Rs 274 per sq.ft, which increased to Rs 301 per sq.ft in 2003. Following this, the value saw a significant rise to Rs 700 per sq.ft in 2007, and then it jumped to Rs 3,500 per sq.ft in 2012. However, it decreased to Rs 2,345 per sq.ft in 2017. The value then increased to Rs 3,500 per sq.ft in 2023, before reaching the current value of Rs 3,900 per sq.ft in 2024.

The changes between these revisions are notable. From 2002 to 2003, there was a 10% increase. The value surged by 133% from 2003 to 2007, followed by a 400% increase from 2007 to 2012. The value then decreased by 33% from 2012 to 2017. A substantial rise of 49% occurred from 2017 to 2023, and finally, there was an 11% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 1323%.

Guideline values in Moovarasampattu

In Moovarasampattu, there are 68 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, placing Deffence colony 1st Street's 2024 figure above that median.

• Dr. Kalaingar Street: Rs 1,700 per sq.ft (2024)
• Brahamaputhira Street: Rs 3,300 per sq.ft (2024)
• Engineering Avenue: Rs 3,300 per sq.ft (2024)
• Bhavani Street(Ganga Nagar): Rs 3,300 per sq.ft (2024)
• Bharathiyar Street: Rs 3,300 per sq.ft (2024)
• Bharathiyar First Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Deffence colony 1st Street

For a 1,000 sq.ft plot at the current rate of Rs 3,900 per sq.ft, the guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, totaling Rs 3,51,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Deffence colony 1st Street?

The Sub Registrar Office that covers Deffence colony 1st Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. For more information, you can find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Moovarasampattu. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the established value of the property.

When a property transaction occurs, the buyer or seller must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that all transactions are conducted fairly and transparently, adhering to the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Deffence colony 1st Street?

The current guideline value of Deffence colony 1st Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 274 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1323% over this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which Sub Registrar Office covers this street?

The Alandur Sub Registrar Office covers Deffence colony 1st Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for Deffence colony 1st Street?

The land classification for Deffence colony 1st Street is Residential Special Type - I.