Guideline Value for SWARNAMANGALA NAGAR

Swarnamangala Nagar guideline value

The current guideline value of Swarnamangala Nagar is Rs 700 per sq.ft, effective from 1 July 2024. This area is located in Kayirambedu village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Special Type - II.

How the guideline value of Swarnamangala Nagar has changed

The guideline value of Swarnamangala Nagar has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 175 per sq.ft. This figure remained unchanged until the 2023 revision, which still recorded the value at Rs 700 per sq.ft. The 2024 revision also maintained the guideline value at Rs 700 per sq.ft, reflecting no change from the previous year. Notably, the register has no figure for this street in the years 2012, 2017, 2002, 2003, and 2017.

From 2007 to 2023, there was a significant increase of 300%, bringing the value to Rs 700 per sq.ft. The overall change from the 2007 revision to the 2024 revision also shows a 300% increase, as the value has remained consistent since 2023.

Guideline values in Kayirambedu

In Kayirambedu, a total of 120 streets under the Chengleput Joint II SRO have a 2024 guideline value ranging from Rs 400 to Rs 3,550 per sq.ft. The median value is Rs 700 per sq.ft, which is the same as the current guideline value for Swarnamangala Nagar.

• Suseela Nagar: Rs 700 per sq.ft (2024)
• Supreem City: Rs 1,500 per sq.ft (2024)
• Thamizh Selvi Nagar: Rs 700 per sq.ft (2024)
• Thangappan Avenue: Rs 700 per sq.ft (2024)
• Subramaniapuram: Rs 1,001 per sq.ft (2024)
• Thiru.Gopal Nagar: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Swarnamangala Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, while the registration fee at 2% would be Rs 14,000, bringing the total cost to Rs 63,000. 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 details.

Which Sub Registrar Office covers Swarnamangala Nagar?

The Sub Registrar Office that covers Swarnamangala 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 Kayirambedu

The guideline value is a crucial factor when registering property transactions in Kayirambedu. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that property transactions are conducted fairly and transparently, reflecting the official value set by the registration authorities.

Frequently asked questions

What is the current guideline value of Swarnamangala Nagar?

The current guideline value of Swarnamangala Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 700 per sq.ft since the 2023 revision. It increased from Rs 175 per sq.ft in 2007, marking a 300% increase overall from 2007 to 2024.

What are the stamp duty and registration fees for property in Swarnamangala Nagar?

For a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000 and the registration fee would be Rs 14,000, totaling Rs 63,000. The duty is charged on the higher of the guideline value or the sale price.

Which Sub Registrar Office covers Swarnamangala Nagar?

The Chengleput Joint II Sub Registrar Office covers Swarnamangala Nagar, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the land classification for Swarnamangala Nagar?

The land classification for Swarnamangala Nagar is Residential Special Type - II, indicating its designated use for residential purposes.