Guideline Value for Zakia Nagar

Zakia Nagar guideline value

The current guideline value of Zakia Nagar, located in Amarampedu village under the Sriperumpudur SRO, is Rs 350 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Zakia Nagar has changed

The guideline value for Zakia Nagar has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 50 per sq.ft, which saw a significant increase to Rs 350 per sq.ft in the 2012 revision. However, it dropped to Rs 234 per sq.ft in 2017. The 2023 revision maintained the value at Rs 350 per sq.ft, and the same value continues into the 2024 revision, showing no change from the previous year.

From 2017 to 2023, there was a 50% increase, while from 2012 to 2017, the value decreased by 33%. The most notable change occurred between the 2007 and 2012 revisions, where the value increased by 600%. Overall, from 2007 to 2024, the guideline value has increased by 600%.

Guideline values in Amarampedu

In Amarampedu, there are 45 streets under the Sriperumpudur SRO, with guideline values for 2024 ranging from Rs 100 to Rs 500 per sq.ft. The median value is Rs 200 per sq.ft, making Zakia Nagar's 2024 value of Rs 350 per sq.ft above this median.

• Star city: Rs 200 per sq.ft (2024)
• Sri Senthil Avenue: Rs 200 per sq.ft (2024)
• Sri Ramkrishna Nagar: Rs 200 per sq.ft (2024)
• Sri Rajeswari Nagar: Rs 150 per sq.ft (2024)
• Sri Mahalaxmi Nagar: Rs 150 per sq.ft (2024)
• Sivan Koil Street: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Zakia Nagar

For a 1,000 sq.ft plot at the current rate of Rs 350 per sq.ft, the guideline value amounts to Rs 3,50,000. The stamp duty at 7% would be Rs 24,500, and the registration fee at 2% would be Rs 7,000, totaling Rs 31,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Zakia Nagar?

Zakia Nagar falls under the jurisdiction of the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Amarampedu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property transaction occurs, the buyer and seller must consider the guideline value, as it affects the overall costs involved in the registration process. This ensures transparency and helps in maintaining a standard valuation for properties in the area.

Frequently asked questions

What is the current guideline value of Zakia Nagar?

The current guideline value of Zakia Nagar is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Zakia Nagar has changed from Rs 50 per sq.ft in 2007 to Rs 350 per sq.ft in 2012, then decreased to Rs 234 per sq.ft in 2017, and has remained at Rs 350 per sq.ft since 2023.

What is the land classification of Zakia Nagar?

Zakia Nagar is classified as Residential Special Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Zakia Nagar?

The Sub Registrar Office covering Zakia Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for property in Zakia Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 3,50,000, the stamp duty would be Rs 24,500 at a rate of 7%.