Guideline Value for N.R. Swamy Nagar

N.R. Swamy Nagar guideline value

The current guideline value of N.R. Swamy Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Pullilyon village under the Redhills Sub Registrar Office (SRO) and is classified as Residential Class II Type - I.

How the guideline value of N.R. Swamy Nagar has changed

The guideline value for N.R. Swamy Nagar has seen several revisions over the years. The earliest recorded figure is from 2003, which was Rs 70 per sq.ft. This figure increased significantly to Rs 300 per sq.ft in 2007, marking a 329% rise. In 2012, the value was revised to Rs 500 per sq.ft, a decrease of 33%. The next revision in 2017 saw an increase to Rs 335 per sq.ft, followed by a substantial jump to Rs 500 per sq.ft in 2023, and finally reaching Rs 550 per sq.ft in 2024, reflecting a 10% increase from the previous year.

Notably, there is no recorded guideline value for N.R. Swamy Nagar in 2002. Overall, from 2003 to 2024, the guideline value has increased by 686%.

Guideline values in Pullilyon

In Pullilyon village, there are 77 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value in this area is Rs 700 per sq.ft, indicating that N.R. Swamy Nagar's current value is below this median.

• New Redhills haroon Ullasa City: Rs 770 per sq.ft (2024)
• Papparappattu Perumal Koil Street: Rs 440 per sq.ft (2024)
• Parivallal Nagar: Rs 440 per sq.ft (2024)
• Pathrakaliamman Nagar: Rs 440 per sq.ft (2024)
• Perumal Koil Street: Rs 440 per sq.ft (2024)
• Moogambigai Nagar: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in N.R. Swamy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty, charged at 7%, would amount to Rs 38,500, while the registration fee at 2% would be Rs 11,000, totaling Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers N.R. Swamy Nagar?

The N.R. Swamy Nagar area falls under the jurisdiction of the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Pullilyon. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the buyer must ensure that the sale price is at least equal to the guideline value to avoid any discrepancies during registration. This helps maintain transparency and ensures that the correct fees are collected by the government.

Frequently asked questions

What is the current guideline value of N.R. Swamy Nagar?

The current guideline value of N.R. Swamy Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 70 per sq.ft in 2003 to Rs 550 per sq.ft in 2024, reflecting an overall increase of 686% over the years.

What is the registration fee for property in N.R. Swamy Nagar?

The registration fee is 2% of the guideline value. For a property valued at Rs 5,50,000, the registration fee would be Rs 11,000.

Where can I find the Sub Registrar Office for N.R. Swamy Nagar?

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

What factors influence the guideline value in Pullilyon?

The guideline value is influenced by various factors including land classification, location, and historical data of property values in the area, as seen in the revisions over the years.