Guideline Value for Hagiyar Nagar

Hagiyar Nagar guideline value

The current guideline value of Hagiyar Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Padappai village, under the Padappai SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Hagiyar Nagar has changed

Over the years, the guideline value of Hagiyar Nagar has seen significant changes. The earliest recorded figure in the register is from 2007, where the guideline value was Rs 85 per sq.ft. This increased dramatically to Rs 3,000 per sq.ft in 2012, marking a rise of 3,429%. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, a drop of 33%. The value then rose again to Rs 3,000 per sq.ft in 2023, reflecting an increase of 49%. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, which is a 10% increase from the previous year.

It is important to note that the register does not provide figures for the years 2002 and 2003 for this street. Overall, from the 2007 figure to the current 2024 figure, there has been an increase of 3,782%.

Guideline values in Padappai

In Padappai, there are 146 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 4,000 per sq.ft. The median value is Rs 830 per sq.ft, placing Hagiyar Nagar's 2024 figure above this median.

• Haji Anserdeen Avenue: Rs 3,300 per sq.ft (2024)
• Hamithiya Nagar: Rs 1,320 per sq.ft (2024)
• Haritha Nagar: Rs 830 per sq.ft (2024)
• Hasan Nagar: Rs 1,320 per sq.ft (2024)
• Hayath Nagar: Rs 830 per sq.ft (2024)
• Green Park Avenue: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Hagiyar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 Hagiyar Nagar?

The Sub Registrar Office that covers Hagiyar Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Padappai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and fairly. Buyers and sellers should be aware of the current guideline value to understand their financial obligations better.

Frequently asked questions

What is the current guideline value of Hagiyar Nagar?

The current guideline value of Hagiyar Nagar is Rs 3,300 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 85 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 3,782%.

What is the median guideline value in Padappai?

The median guideline value in Padappai is Rs 830 per sq.ft, with Hagiyar Nagar's value being above this median.

What are the stamp duty and registration fees for property in Hagiyar Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 2,97,000.

Where is the Sub Registrar Office for Hagiyar Nagar located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.