Guideline Value for Zion Street

Zion Street guideline value

The current guideline value of Zion Street in Selaiyur village is Rs 1,400 per sq.ft, effective from 1 July 2024. This street falls under the Selaiyur Sub Registrar Office (SRO) and is classified as Residential Class III Type - I.

How the guideline value of Zion Street has changed

The guideline value for Zion Street has undergone several revisions over the years. The earliest recorded figure is from 2012, when it was Rs 1,300 per sq.ft. This was followed by a decrease to Rs 871 per sq.ft in 2017. In 2023, the value increased to Rs 1,300 per sq.ft, and the most recent revision in 2024 set the value at Rs 1,400 per sq.ft, marking an 8% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, comparing the figures from 2012 to 2024, the guideline value has seen an increase of 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Zion Street is below this median.

• Vyasar Street: Rs 2,900 per sq.ft (2024)
• Vinobha Nagar 3rd Street: Rs 2,750 per sq.ft (2024)
• Vinobha Nagar 3rd Cross Street: Rs 2,750 per sq.ft (2024)
• Vinobha Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Vinobha Nagar 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Vinobha Nagar 1st Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Zion Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,400 per sq.ft, the total guideline value would be Rs 14,00,000. The stamp duty at 7% would amount to Rs 98,000, and the registration fee at 2% would be Rs 28,000, resulting in a total of Rs 1,26,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Zion Street?

Zion Street falls under the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Selaiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

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

Frequently asked questions

What is the current guideline value of Zion Street?

The current guideline value of Zion Street is Rs 1,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent being Rs 1,400 per sq.ft in 2024. It was Rs 1,300 per sq.ft in 2023, Rs 871 per sq.ft in 2017, and Rs 1,300 per sq.ft in 2012.

What is the median guideline value in Selaiyur?

The median guideline value in Selaiyur is Rs 2,200 per sq.ft for the year 2024, with Zion Street's value being below this median.

What are the stamp duty rates for properties in Zion Street?

The stamp duty for properties in Zion Street is charged at a rate of 7% on the higher of the guideline value or the sale price. The registration fee is charged at 2%.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.