Guideline Value for SWARKKAM NAGAR

Swarkkam Nagar guideline value

The current guideline value of Swarkkam Nagar is Rs 2,640 per sq.ft, effective from 1 July 2024. This area is located in Perungalathur village under the Padappai Sub Registrar Office (SRO) and is classified as Residential Class I Type - I.

How the guideline value of Swarkkam Nagar has changed

Over the years, the guideline value for Swarkkam Nagar has seen several revisions. The 2012 revision set the value at Rs 2,400 per sq.ft, which was then reduced to Rs 1,608 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,400 per sq.ft, and the most recent 2024 revision raised it further to Rs 2,640 per sq.ft. Notably, the register has no figure for this street in 2002, 2003, and 2007.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. The change from 2023 to 2024 reflects a 10% increase. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 10%.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that have a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value is Rs 2,310 per sq.ft, placing Swarkkam Nagar's 2024 figure above that median.

• Swarkam Avenue: Rs 2,640 per sq.ft (2024)
• Suvathini Apartments: Rs 1,650 per sq.ft (2024)
• Sundarar Street: Rs 2,310 per sq.ft (2024)
• Sundaram Nagar: Rs 1,650 per sq.ft (2024)
• Thai Moogambigai Nagar: Rs 2,640 per sq.ft (2024)
• Thai Moogambigai Nagar Extension: Rs 4,290 per sq.ft (2024)

Stamp duty and registration fee for property in Swarkkam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,640 per sq.ft, the total guideline value amounts to Rs 26,40,000. The stamp duty at 7% would be Rs 1,84,800, and the registration fee at 2% would be Rs 52,800, bringing the total cost for these fees to Rs 2,37,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Swarkkam Nagar?

The Sub Registrar Office that covers Swarkkam Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Perungalathur. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid.

It is essential for buyers and sellers to be aware of the guideline value as it ensures that the transaction is conducted in compliance with the regulations set by the Registration Department. This helps in maintaining transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of Swarkkam Nagar?

The current guideline value of Swarkkam Nagar is Rs 2,640 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,400 per sq.ft in 2012 to Rs 1,608 per sq.ft in 2017, then to Rs 2,400 per sq.ft in 2023, and finally to Rs 2,640 per sq.ft in 2024.

What is the median guideline value in Perungalathur?

The median guideline value in Perungalathur is Rs 2,310 per sq.ft, which is lower than the current value of Swarkkam Nagar.

What are the stamp duty and registration fees for properties in Swarkkam Nagar?

The stamp duty is charged at 7%, and the registration fee is charged at 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Swarkkam Nagar located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.