Guideline Value for SWAMI NAGAR

Swami Nagar guideline value

The current guideline value of Swami Nagar is Rs 600 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Special Type - I.

How the guideline value of Swami Nagar has changed

Over the years, the guideline value of Swami Nagar has seen several revisions. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged in the 2017 revision. However, from 2017 to 2023, the guideline value increased by 49% to Rs 600 per sq.ft, and there was no change from 2023 to 2024. The register has no figures for the years 2002, 2003, and 2007 regarding this street.

Overall, comparing the 2012 revision to the current 2024 value, there has been a 0% change, indicating stability in the guideline value over this period. The 2017 revision had a decrease of 33% from the 2012 figure before the subsequent increases in the following years.

Guideline values in Kolathur

In Kolathur, there are 58 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 1,600 per sq.ft, with a median value of Rs 600 per sq.ft. Swami Nagar's 2024 figure matches this median value.

• Thirumal Puram: Rs 600 per sq.ft (2024)
• Sri Srinivasa Avenue: Rs 600 per sq.ft (2024)
• Srinivasa Palms @ S.P.Kovil -II: Rs 1,500 per sq.ft (2024)
• Srinivasa Palms @ S.P.Kovil: Rs 1,500 per sq.ft (2024)
• Sri Narsimman Nagar: Rs 600 per sq.ft (2024)
• Vaiguntha Nagar: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Swami Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, resulting in a total of Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Swami Nagar?

The Sub Registrar Office that covers Swami Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Kolathur

The guideline value plays a crucial role in property transactions in Kolathur. It is used to determine the stamp duty and registration fees when a property is bought or sold. The value ensures that the government receives appropriate revenue based on the property's assessed worth.

When you register a property, the guideline value is compared to the sale price. The higher value between the two is used to calculate the applicable duties and fees, ensuring transparency and fairness in the transaction process.

Frequently asked questions

What is the current guideline value of Swami Nagar?

The current guideline value of Swami Nagar is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained stable at Rs 600 per sq.ft from 2012 to 2024, with a significant increase of 49% from 2017 to 2023. However, there was a decrease of 33% from 2012 to 2017.

What is the land classification for Swami Nagar?

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

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles registrations for properties in Swami Nagar.

How is the stamp duty calculated for properties in Swami 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 6,00,000, the stamp duty at 7% would be Rs 42,000, along with a registration fee of Rs 12,000, totaling Rs 54,000.