Guideline Value for Zion Nagar

Zion Nagar guideline value

The current guideline value of Zion Nagar, located in Vanchuvancheri village under the Sriperumpudur SRO, is Rs 600 per sq.ft, effective from 1 July 2024. This area is classified as Commercial Class I Type - II.

How the guideline value of Zion Nagar has changed

Over the years, the guideline value for Zion Nagar has undergone several revisions. The earliest recorded figure is from 2007, where the value was Rs 115 per sq.ft. This increased significantly to Rs 600 per sq.ft in 2012, marking a substantial rise of 422%. However, in 2017, the value dropped to Rs 402 per sq.ft, reflecting a decrease of 33%. The guideline value then saw an increase to Rs 600 per sq.ft in both the 2023 and 2024 revisions, with no change between these two years.

The revisions for 2002 and 2003 do not have any figures recorded for Zion Nagar. The overall change from the 2007 revision to the 2024 revision shows an increase of 422% in the guideline value.

Guideline values in Vanchuvancheri

In Vanchuvancheri, there are 23 streets under the Sriperumpudur SRO with a 2024 guideline value ranging from Rs 200 to Rs 700 per sq.ft. The median value for these streets is Rs 400 per sq.ft, placing Zion Nagar's 2024 figure of Rs 600 above this median.

• Vinayagar Koil Sreet: Rs 200 per sq.ft (2024)
• Vetri Vinayagar Nagar: Rs 200 per sq.ft (2024)
• Vasantham Nagar: Rs 400 per sq.ft (2024)
• Theruveethi Amman Koil Street: Rs 200 per sq.ft (2024)
• Tambaram Kanchipuram Road: Rs 700 per sq.ft (2024)
• Sri Vijaya Ganapathy Nagar: Rs 510 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 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total cost for these fees to Rs 54,000. 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 Zion Nagar?

The Sub Registrar Office that covers Zion Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Vanchuvancheri. It serves as a benchmark for determining the applicable stamp duty and registration fees, ensuring that these costs are calculated based on the official value set by the government.

Frequently asked questions

What is the current guideline value of Zion Nagar?

The current guideline value of Zion Nagar is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most notable increase occurring from Rs 115 per sq.ft in 2007 to Rs 600 per sq.ft in 2012, followed by a decrease to Rs 402 per sq.ft in 2017, and then stabilizing at Rs 600 per sq.ft in 2023 and 2024.

What are the other streets in Vanchuvancheri?

Other streets in Vanchuvancheri include Vinayagar Koil Sreet, Vetri Vinayagar Nagar, Vasantham Nagar, Theruveethi Amman Koil Street, Tambaram Kanchipuram Road, and Sri Vijaya Ganapathy Nagar, with varying guideline values.

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

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

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

Stamp duty for properties in Zion Nagar is calculated based on the higher of the guideline value or the sale price. For example, the total cost for a 1,000 sq.ft plot at the current guideline value is Rs 54,000, which includes both stamp duty and registration fees.