Guideline Value for Zion Nagar

Zion Nagar guideline value

The current guideline value of Zion Nagar is Rs 1,002 per sq.ft, effective from 1 July 2024. This area is located in Ariyalur village under the Redhills SRO, with a land classification of 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. However, the register has no figure for this street in the years 2002, 2003, 2007, 2012, 2017, and 2023. The most recent revision in 2024 set the guideline value at Rs 1,002 per sq.ft.

Since there are no figures available for the previous revisions, it can be noted that the current value is consistent with the median value of other streets in Ariyalur for the 2024 revision, which also stands at Rs 1,002 per sq.ft.

Guideline values in Ariyalur

Ariyalur village has 24 streets under the Redhills SRO that carry a guideline value for 2024, ranging from Rs 1,002 to Rs 1,008 per sq.ft. Zion Nagar's guideline value of Rs 1,002 per sq.ft is equal to the median value of the area.

• Vigneshwara Nagar: Rs 1,008 per sq.ft (2024)
• Subham Nagar: Rs 1,002 per sq.ft (2024)
• Sri Abirami Nagar: Rs 1,004 per sq.ft (2024)
• Shanthi Nagar: Rs 1,004 per sq.ft (2024)
• P.T.C. Nagar: Rs 1,002 per sq.ft (2024)
• Perumal Koil Street (Colony): Rs 1,002 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 1,002 per sq.ft, the total guideline value would be Rs 10,02,000. The stamp duty at 7% would be Rs 70,140, and the registration fee at 2% would be Rs 20,040, bringing the total costs together to Rs 90,180. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For further 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 Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Ariyalur, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value during negotiations, as it affects the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to calculate the applicable duties and fees, ensuring that both parties are aware of the financial implications of the sale. This process helps maintain transparency and standardization in property transactions across the region.

Frequently asked questions

What is the current guideline value of Zion Nagar?

The current guideline value of Zion Nagar is Rs 1,002 per sq.ft, effective from 1 July 2024.

How has the guideline value of Zion Nagar changed over the years?

The register has no figure for Zion Nagar in the years 2002, 2003, 2007, 2012, 2017, and 2023. The most recent revision in 2024 set the guideline value at Rs 1,002 per sq.ft.

What is the land classification of Zion Nagar?

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

Where is the Sub Registrar Office for Zion Nagar located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the guideline value of Rs 1,002 per sq.ft would incur a stamp duty of Rs 70,140.