Guideline Value for HAJMIR KAJA NAGAR

Hajmir Kaja Nagar guideline value

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

How the guideline value of Hajmir Kaja Nagar has changed

Over the years, the guideline value of Hajmir Kaja Nagar has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then decreased to Rs 1,005 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, and the most recent revision in 2024 raised it to Rs 1,600 per sq.ft. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

The changes between the revisions illustrate a notable fluctuation. From 2012 to 2017, the value decreased by 33%, but from 2017 to 2023, it increased by 49%. Overall, from 2012 to 2024, the guideline value has risen by 7%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO, with guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value for these streets is Rs 2,500 per sq.ft, placing Hajmir Kaja Nagar's 2024 figure below this median.

• Haji 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 Hajmir Kaja Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Hajmir Kaja Nagar?

The Hajmir Kaja Nagar area falls under the jurisdiction of the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the 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 is crucial when registering property transactions in Korattur. It serves as a reference point for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value impacts the total cost involved in the transaction. Buyers should be aware that the stamp duty is calculated based on either the guideline value or the sale price, whichever is higher, thus influencing the overall expenses of the property transfer.

Frequently asked questions

What is the current guideline value of Hajmir Kaja Nagar?

The current guideline value of Hajmir Kaja 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 from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the land classification for Hajmir Kaja Nagar?

Hajmir Kaja Nagar is classified as Residential Class III Type - III.

Where is the Villivakkam Sub Registrar Office located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is stamp duty calculated for properties in Hajmir Kaja Nagar?

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