Guideline Value for SWARNALAYAM

Swarnalayam guideline value

The current guideline value of Swarnalayam, located in Kuthampakkam village under the Avadi SRO, is Rs 550 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Swarnalayam has changed

The guideline value for Swarnalayam has undergone several revisions over the years. The register does not contain figures for the years 2002, 2003, 2007, 2012, and 2017. The most recent figures show that in 2023, the guideline value was Rs 500 per sq.ft, which increased by 10% to Rs 550 per sq.ft in the 2024 revision.

Prior to the 2023 revision, there is no available data for the aforementioned years. The increase from Rs 500 to Rs 550 per sq.ft in 2024 reflects a significant adjustment in the guideline value for this street.

Guideline values in Kuthampakkam

In Kuthampakkam village, there are 19 streets under the Avadi SRO that have a 2024 guideline value ranging from Rs 550 to Rs 3,564 per sq.ft, with a median value of Rs 1,642 per sq.ft. The guideline value for Swarnalayam is below this median.

• Swarnalayam Phase-2: Rs 990 per sq.ft (2024)
• Tata Value Homes: Rs 2,790 per sq.ft (2024)
• Ms Residency Extension: Rs 990 per sq.ft (2024)
• Ms Residency: Rs 770 per sq.ft (2024)
• Ms Fortune City: Rs 880 per sq.ft (2024)
• Ms Dream Town Thiru Jayanthinadhar Nagar: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Swarnalayam

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total fees to 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 use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Swarnalayam?

The Swarnalayam area falls under the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Kuthampakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher amount 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 for Swarnalayam?

The current guideline value for Swarnalayam is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Swarnalayam has changed from Rs 500 per sq.ft in 2023 to Rs 550 per sq.ft in 2024, reflecting a 10% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the classification of land in Swarnalayam?

The land in Swarnalayam is classified as Residential Special Type - I, which indicates its intended use for residential purposes.

What are the stamp duty rates for property transactions in Swarnalayam?

The stamp duty rate for property transactions in Swarnalayam is 7% of the guideline value or sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

Where can I find the Sub Registrar Office for Swarnalayam?

The Sub Registrar Office covering Swarnalayam is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find more details by visiting the provided link.