Guideline Value for NORTH SANJAY GANDHI NAGAR

North Sanjay Gandhi Nagar guideline value

The current guideline value of North Sanjay Gandhi Nagar is Rs 2,100 per sq.ft, effective from 1 July 2024. This area is located in Zaminpallavaram village, under the Pallavaram SRO, and is classified as Residential Class IV Type - I.

How the guideline value of North Sanjay Gandhi Nagar has changed

Over the years, the guideline value of North Sanjay Gandhi Nagar has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,000 per sq.ft, and the most recent 2024 revision has set it at Rs 2,100 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased significantly by 49%. The overall change from 2012 to 2024 shows a slight increase of 5%, indicating fluctuations in the guideline value over the years.

Guideline values in Zaminpallavaram

Zaminpallavaram has a total of 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing North Sanjay Gandhi Nagar's 2024 figure below this median.

• North Subramaniyar Koil 1st St.: Rs 2,160 per sq.ft (2024)
• North Dharka Road: Rs 2,750 per sq.ft (2024)
• Odai Street: Rs 3,300 per sq.ft (2024)
• Nilagandan 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Nilagandan 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Omanathapillai Avenue P.t.1: Rs 2,100 per sq.ft (2024)

Stamp duty and registration fee for property in North Sanjay Gandhi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,100 per sq.ft, the total guideline value amounts to Rs 21,00,000. The stamp duty, calculated at 7%, would be Rs 1,47,000, and the registration fee at 2% would be Rs 42,000, bringing the total to Rs 1,89,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers North Sanjay Gandhi Nagar?

The Sub Registrar Office that covers North Sanjay Gandhi Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Zaminpallavaram. It serves as the minimum value at which a property can be registered and is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives appropriate revenue from property transactions.

When you proceed with a property transaction, the guideline value helps determine the legal and financial obligations involved. Buyers must be aware of this value to ensure compliance with registration requirements and to avoid any potential disputes in the future.

Frequently asked questions

What is the current guideline value of North Sanjay Gandhi Nagar?

The current guideline value of North Sanjay Gandhi Nagar is Rs 2,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,100 per sq.ft in 2024.

What is the median guideline value in Zaminpallavaram?

The median guideline value in Zaminpallavaram is Rs 3,300 per sq.ft, which is higher than the current value of North Sanjay Gandhi Nagar.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for North Sanjay Gandhi Nagar located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.