Guideline Value for zion Nagar

zion Nagar guideline value

The current guideline value of zion Nagar, located in Kaval Kazhani village, is Rs 500 per sq.ft, effective from 1 July 2024. This area falls under the Sunguvarchattram SRO and is classified as Commercial Class I Type - I.

How the guideline value of zion Nagar has changed

The guideline value for zion Nagar has seen various revisions over the years. In the 2007 revision, the value was set at Rs 70 per sq.ft, which increased significantly to Rs 500 per sq.ft in the 2012 revision. However, it then decreased to Rs 335 per sq.ft in 2017. The 2023 revision maintained the value at Rs 500 per sq.ft, which remains unchanged in the 2024 revision.

From 2017 to 2023, there was a notable increase of 49%. The overall change from the 2007 revision to the current 2024 value reflects a substantial increase of 614%. It is important to note that the register has no figures for zion Nagar for the years 2002 and 2003.

Guideline values in Kaval Kazhani

Kaval Kazhani village features 20 streets under the Sunguvarchattram SRO, with guideline values ranging from Rs 226 to Rs 1,550 per sq.ft. The median value for these streets is Rs 300 per sq.ft, placing zion Nagar's current value above this median.

• Thirumal Nagar Extension: Rs 226 per sq.ft (2024)
• Thirumalai nagar phase-III: Rs 400 per sq.ft (2024)
• Thirumagal Nagar: Rs 226 per sq.ft (2024)
• Teachers VIP Layout: Rs 400 per sq.ft (2024)
• Suncity I,II: Rs 300 per sq.ft (2024)
• Suncity: Rs 300 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 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total charges to Rs 45,000. It is essential to note that the 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 Nagar?

The Sub Registrar Office that covers zion Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Kaval Kazhani. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the Registration Department.

When buying or selling property, the guideline value is essential for determining the official value of the property for taxation purposes. It helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of zion Nagar?

The current guideline value of zion Nagar is Rs 500 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 significant changes from Rs 70 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, then decreasing to Rs 335 per sq.ft in 2017, and remaining at Rs 500 per sq.ft in 2023 and 2024.

What is the classification of land in zion Nagar?

zion Nagar is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

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

The Sub Registrar Office for zion Nagar is located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in zion Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000 at a rate of 7%.