Guideline Value for Zion Nagar

Zion Nagar guideline value

The current guideline value of Zion Nagar is Rs 102 per sq.ft, effective from 1 July 2024. This area is located in 111. Alapakkam village under the Salavakkam SRO, classified as Residential Class III Type - I.

How the guideline value of Zion Nagar has changed

Since the 2012 revision, the guideline value has seen significant changes. In 2012, the value was Rs 55 per sq.ft, which decreased to Rs 37 per sq.ft in 2017. However, from 2017 to 2023, there was a substantial increase of 170%, bringing the value up to Rs 100 per sq.ft. The latest revision in 2024 has further increased the guideline value to Rs 102 per sq.ft, marking a 2% rise from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 85%.

Guideline values in 111. Alapakkam

In 111. Alapakkam, there are five streets under the Salavakkam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 102 per sq.ft. Zion Nagar's current guideline value is above the median of Rs 100 per sq.ft.

• Padappai street: Rs 101 per sq.ft (2024)
• Arulmigu sundaravaratha perumalkovil street south side: Rs 100 per sq.ft (2024)
• Arulmigu sundaravaratha perumalkovil street north side: Rs 100 per sq.ft (2024)
• Arulmigu selliamman kovil street: Rs 100 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 102 per sq.ft, the total guideline value amounts to Rs 1,02,000. The stamp duty at 7% would be Rs 7,140, and the registration fee at 2% would be Rs 2,040, bringing the total to Rs 9,180. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Zion Nagar?

The Sub Registrar Office that covers Zion Nagar is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in 111. Alapakkam

The guideline value is a crucial factor during the registration process of property transactions in 111. Alapakkam. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps determine the minimum price at which a property can be registered. This value is essential for both buyers and sellers to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Zion Nagar?

The current guideline value of Zion Nagar is Rs 102 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

From 2012 to 2024, the guideline value has increased by 85%. The value was Rs 55 per sq.ft in 2012, decreased to Rs 37 per sq.ft in 2017, and rose to Rs 100 per sq.ft in 2023 before reaching Rs 102 per sq.ft in 2024.

What is the median guideline value in 111. Alapakkam?

The median guideline value in 111. Alapakkam is Rs 100 per sq.ft. Zion Nagar's current guideline value is above this median.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Zion Nagar is charged at 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2%.

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

The Sub Registrar Office for Zion Nagar is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.