Guideline Value for Swagatham Nagar

Swagatham Nagar guideline value

The current guideline value of Swagatham Nagar, located in Thirumudivakkam village under the Padappai SRO, is Rs 660 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Swagatham Nagar has changed

The guideline value for Swagatham Nagar has undergone several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was Rs 600 per sq.ft. This figure remained unchanged until the next revision in 2017, where it dropped to Rs 402 per sq.ft, marking a decrease of 33%. In 2023, the guideline value increased to Rs 600 per sq.ft, and then further rose to Rs 660 per sq.ft in 2024, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49% in the guideline value. Overall, when comparing the figures from 2012 to 2024, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thirumudivakkam

In Thirumudivakkam, there are 56 streets under the Padappai SRO that have a guideline value for 2024, ranging from Rs 660 to Rs 3,860 per sq.ft, with a median value of Rs 1,320 per sq.ft. The guideline value of Swagatham Nagar is below this median.

• Thai Thillai Nagar: Rs 660 per sq.ft (2024)
• Subhalakshmi Nagar: Rs 1,320 per sq.ft (2024)
• Thirumudivakkam Road: Rs 1,320 per sq.ft (2024)
• Srinivasa Garden: Rs 3,210 per sq.ft (2024)
• Sri Mahalakshmi Co-operative society nagar: Rs 1,320 per sq.ft (2024)
• Sri Krishna Nagar Phase II: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Swagatham Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total to Rs 59,400. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Swagatham Nagar?

Swagatham Nagar falls under 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 Thirumudivakkam

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

When registering a property, the guideline value is used to calculate the applicable fees, ensuring that the government receives the necessary revenue from property transactions. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Swagatham Nagar?

The current guideline value of Swagatham Nagar is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 660 per sq.ft in 2024, with several revisions in between, including a drop to Rs 402 per sq.ft in 2017.

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

For a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 and the registration fee would be Rs 13,200, totaling Rs 59,400.

Which office handles property registrations for Swagatham Nagar?

The Padappai Sub Registrar Office handles property registrations for Swagatham Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees for property transactions, ensuring compliance with government regulations during the registration process.