Guideline Value for Z.N.NAGAR

Z.N.Nagar guideline value

The current guideline value of Z.N.Nagar, located in Karunguzhi village under the Madurandakam SRO, is Rs 500 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Z.N.Nagar has changed

Over the years, the guideline value for Z.N.Nagar has seen several revisions. The 2012 revision set the value at Rs 500 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 335 per sq.ft. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 500 per sq.ft. The 2024 revision maintained this value, showing no change from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained stable with an overall change of 0%.

Guideline values in Karunguzhi

In Karunguzhi village, there are 37 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 401 to Rs 1,000 per sq.ft. The median value for these streets is Rs 401 per sq.ft, indicating that Z.N.Nagar's value is above this median.

• West Pillayar Koil Street: Rs 401 per sq.ft (2024)
• Valluvar Veedhi: Rs 401 per sq.ft (2024)
• Vaiyali Vinayagar Koil Street: Rs 401 per sq.ft (2024)
• Thumbhulavar Street: Rs 401 per sq.ft (2024)
• Thattara Street: Rs 401 per sq.ft (2024)
• Shalom Nagar: Rs 602 per sq.ft (2024)

Stamp duty and registration fee for property in Z.N.Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, leading to a total cost of Rs 45,000. It is essential to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Z.N.Nagar?

The Sub Registrar Office covering Z.N.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 information.

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

The guideline value is a critical factor in property transactions in Karunguzhi. It serves as the base for calculating stamp duty and registration fees during the registration process. Buyers and sellers must be aware that the guideline value is used to determine the official valuation of the property.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. It helps maintain transparency in the real estate market within the region.

Frequently asked questions

What is the current guideline value of Z.N.Nagar?

The current guideline value of Z.N.Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen a decrease from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, followed by an increase back to Rs 500 per sq.ft in 2023, with no change in 2024.

What is the land classification for Z.N.Nagar?

The land classification for Z.N.Nagar is Residential Special Type - II, indicating its suitability for residential development.

What are the other streets in Karunguzhi?

Other streets in Karunguzhi include West Pillayar Koil Street, Valluvar Veedhi, Vaiyali Vinayagar Koil Street, Thumbhulavar Street, Thattara Street, and Shalom Nagar, with varying guideline values.

Where is the Madurandakam Sub Registrar Office located?

The Madurandakam Sub Registrar Office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.