While its possible to set default values for SharePoint columns in library level at field settings, What if you want to set the default column value of a document based on the folders its saved? SharePoint 2010/2013 provides a new feature to set metadata values based on the location!
Say, We've a document library with "Department" column and with few folders namely "Sales", "Marketing", "IT", etc. as in this screen.
and we want to the metadata field "Department" value based on the location.
Set Column Default Value Settings in SharePoint 2013
Say, We've a document library with "Department" column and with few folders namely "Sales", "Marketing", "IT", etc. as in this screen.

Set Column Default Value Settings in SharePoint 2013
- Go to List / Library settings >> Click on
- Click on the desired metadata column link of the respective folder(s)
- and set the value for it