Guideline Value for Zion Nagar

Zion Nagar guideline value

The current guideline value of Zion Nagar, located in Nandhivaram village under the Gooduvancheri SRO, is Rs 1,500 per sq.ft. This value is effective from the 1st of July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Zion Nagar has changed

Over the years, the guideline value of Zion Nagar has seen several revisions. The 2007 revision set the value at Rs 328 per sq.ft, which then increased significantly to Rs 1,500 per sq.ft in the 2012 revision. However, the 2017 revision saw a decrease to Rs 1,005 per sq.ft, before rising again to Rs 1,500 per sq.ft in both the 2023 and 2024 revisions, reflecting no change between these two years.

From 2017 to 2023, the guideline value increased by 49%. The overall change from the 2007 revision to the 2024 revision is a substantial increase of 357%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nandhivaram

Nandhivaram has a total of 169 streets under the Gooduvancheri SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 1,500 per sq.ft, which is equal to the current value for Zion Nagar.

• Yamuna Nagar: Rs 1,000 per sq.ft (2024)
• Viswanathapuram: Rs 2,000 per sq.ft (2024)
• Vijaya Nagar: Rs 1,000 per sq.ft (2024)
• Venkateswara Nagar Part-I: Rs 2,000 per sq.ft (2024)
• Veerabagu Nagar Extn: Rs 2,000 per sq.ft (2024)
• Veerabagu Nagar: Rs 2,000 per sq.ft (2024)

Stamp duty and registration fee for property in Zion Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value amounts to Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, bringing the total cost for these fees to Rs 1,35,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Zion Nagar?

The Sub Registrar Office that covers Zion Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Nandhivaram. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that these fees are based on the official valuation of the property.

When buying or selling property, the guideline value ensures transparency and standardization in property transactions. It helps in establishing a fair value for the property, which is essential for both buyers and sellers during the registration process.

Frequently asked questions

What is the current guideline value of Zion Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent revisions being Rs 1,500 per sq.ft in both 2023 and 2024, and Rs 1,005 per sq.ft in 2017.

What is the land classification for Zion Nagar?

The land classification for Zion Nagar is Residential Special Type - I, indicating its suitability for residential development.

Where can I find the Gooduvancheri Sub Registrar Office?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Zion Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 15,00,000 would incur a stamp duty of Rs 1,05,000 at a rate of 7%.