Guideline Value for Z.L.M.J. Nagar

Z.L.M.J. Nagar guideline value

The current guideline value of Z.L.M.J. Nagar is Rs 100 per sq.ft, effective from 1 July 2024. This area is located in Kizhavalem village under the Madurandakam SRO, classified as Residential Class I Type - I.

How the guideline value of Z.L.M.J. Nagar has changed

Over the years, the guideline value of Z.L.M.J. Nagar has seen several revisions. The 2007 revision set the value at Rs 20 per sq.ft, which increased significantly to Rs 85 per sq.ft in 2012, marking a rise of 325%. However, from 2012 to 2017, the value dropped to Rs 57 per sq.ft, a decrease of 33%. The value then rose to Rs 100 per sq.ft in both the 2023 and 2024 revisions, showing a substantial increase of 75% from 2017 to 2023. Notably, the register has no figure for the years 2002 and 2003 for this street.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 400%, reflecting the changes in property valuations over the years.

Guideline values in Kizhavalem

In Kizhavalem village, there are 19 streets under the Madurandakam SRO with a 2024 guideline value ranging from Rs 100 to Rs 400 per sq.ft. The median value for these streets is Rs 103 per sq.ft, placing the 2024 guideline value of Z.L.M.J. Nagar below this median.

• Z.L.M.J.Annex: Rs 100 per sq.ft (2024)
• Vijayalakshmi Garden: Rs 101 per sq.ft (2024)
• Sri Vinayaga Nagar: Rs 103 per sq.ft (2024)
• Sri Ranga Nagar Phase - II: Rs 100 per sq.ft (2024)
• Sri Ranga Nagar: Rs 101 per sq.ft (2024)
• Sriram Nagar: Rs 120 per sq.ft (2024)

Stamp duty and registration fee for property in Z.L.M.J. Nagar

For a 1,000 sq.ft plot at the current rate of Rs 100 per sq.ft, the guideline value would be Rs 1,00,000. The stamp duty at 7% would amount to Rs 7,000, and the registration fee at 2% would be Rs 2,000, making the total Rs 9,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Z.L.M.J. Nagar?

The Sub Registrar Office that covers Z.L.M.J. Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration process of property transactions in Kizhavalem. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately and legally.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the costs involved in the transaction and helps maintain transparency in the property market.

Frequently asked questions

What is the current guideline value of Z.L.M.J. Nagar?

The current guideline value of Z.L.M.J. Nagar is Rs 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 20 per sq.ft in 2007 to Rs 100 per sq.ft in 2024, an overall increase of 400%. There were fluctuations in previous years, including a drop from Rs 85 per sq.ft in 2012 to Rs 57 per sq.ft in 2017.

What is the median guideline value for streets in Kizhavalem?

The median guideline value for the streets in Kizhavalem is Rs 103 per sq.ft, with Z.L.M.J. Nagar's 2024 value being below this median.

What fees are associated with buying property in Z.L.M.J. Nagar?

When buying property in Z.L.M.J. Nagar, buyers should consider a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Z.L.M.J. Nagar?

The Sub Registrar Office for Z.L.M.J. Nagar is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.