Guideline Value for HAJI NAGAR

Haji Nagar guideline value

The current guideline value of Haji Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Korattur village, under the Villivakkam SRO, and is classified as Residential Class III Type - III.

How the guideline value of Haji Nagar has changed

The guideline value for Haji Nagar has undergone several revisions over the years. In 2002, the guideline value was Rs 62 per sq.ft, which increased significantly to Rs 255 per sq.ft in 2007. This marked a change of 311%. The value remained at Rs 1,500 per sq.ft from 2007 until the 2012 revision, after which it continued to hold steady until the 2023 revision. In 2023, the value was again Rs 1,500 per sq.ft, showing no change. The most recent revision in 2024 saw the guideline value increase to Rs 1,600 per sq.ft, reflecting a 7% increase from the previous year.

There are no figures available for the years 2003 and 2017 in the register for Haji Nagar. Overall, from 2002 to 2024, the guideline value has increased by 2481%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,200 per sq.ft, with a median value of Rs 2,500 per sq.ft. Haji Nagar's 2024 guideline value is below this median.

• Hajmir Kaja Nagar: Rs 1,600 per sq.ft (2024)
• Gurusamy Nagar: Rs 1,600 per sq.ft (2024)
• Gramani Street (Thanthankuppam): Rs 1,600 per sq.ft (2024)
• G.P.S Nagar: Rs 1,300 per sq.ft (2024)
• Hindustan Motor's Nagar: Rs 1,600 per sq.ft (2024)
• Hiways Nagar: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Haji Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, totaling Rs 1,44,000. 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 Haji Nagar?

The Sub Registrar Office that covers Haji Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Korattur. It serves as a basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to determine the applicable stamp duty. This ensures that all property transactions are fairly assessed and taxed according to the established guidelines.

Frequently asked questions

What is the current guideline value of Haji Nagar?

The current guideline value of Haji Nagar is Rs 1,600 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 62 per sq.ft in 2002 to Rs 1,600 per sq.ft in 2024, marking an overall increase of 2481%.

What is the land classification for Haji Nagar?

Haji Nagar is classified as Residential Class III Type - III, indicating its designation for residential purposes within the area.

Where can I find the Sub Registrar Office for Haji Nagar?

The Sub Registrar Office for Haji Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in Haji Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 16,00,000 would incur a stamp duty of Rs 1,12,000 at 7%.