Guideline Value for Zion Nagar

Zion Nagar guideline value

The current guideline value of Zion Nagar, located in Serapanancheri village under the Padappai SRO, is Rs 720 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Zion Nagar has changed

The guideline value for Zion Nagar has undergone several revisions over the years. In 2012, the value was set at Rs 650 per sq.ft, which then decreased to Rs 435 per sq.ft in 2017. Following this, the value increased significantly to Rs 650 per sq.ft in 2023 and further rose to Rs 720 per sq.ft in 2024, marking an 11% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, comparing the values from 2012 to 2024, there has been an 11% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Serapanancheri

In Serapanancheri village, there are 53 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 4,440 per sq.ft, with the median value being Rs 720 per sq.ft. Zion Nagar's 2024 figure aligns with this median.

• Walajabad Main Road: Rs 990 per sq.ft (2024)
• Vinneesa Nagar: Rs 720 per sq.ft (2024)
• Vignesh Nagar: Rs 720 per sq.ft (2024)
• Vetri Vinayagar Avenue: Rs 720 per sq.ft (2024)
• Vetri Nagar: Rs 720 per sq.ft (2024)
• Venkatajalapathi Nagar: Rs 720 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 720 per sq.ft, the total guideline value amounts to Rs 7,20,000. The stamp duty at 7% would be Rs 50,400, and the registration fee at 2% would be Rs 14,400, totaling Rs 64,800. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our 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 Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for additional information.

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

The guideline value is an essential factor during the registration of property transactions in Serapanancheri. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Zion Nagar?

The current guideline value of Zion Nagar is Rs 720 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 650 per sq.ft in 2012 to Rs 435 per sq.ft in 2017, then to Rs 650 per sq.ft in 2023, and finally to Rs 720 per sq.ft in 2024.

What is the land classification for Zion Nagar?

Zion Nagar is classified as Residential Class I Type - I, which indicates its suitability for residential development.

What are the stamp duty and registration fees for properties in Zion Nagar?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would amount to Rs 64,800.

Which office handles property registration for Zion Nagar?

The Padappai Sub Registrar Office handles property registration for Zion Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.