Guideline Value for Swami Nagar

Swami Nagar guideline value

The current guideline value of Swami Nagar, located in Thirumullaivoyal village under the Ambattur SRO, is Rs 1,600 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class III Type - I.

How the guideline value of Swami Nagar has changed

The guideline value for Swami Nagar has undergone several revisions over the years. Starting from Rs 138 per sq.ft in 2002, it increased to Rs 160 per sq.ft in 2003, marking a 16% rise. The value then jumped significantly to Rs 200 per sq.ft in 2007, a 25% increase. Following this, the guideline value surged to Rs 1,500 per sq.ft in 2012, reflecting a remarkable 650% increase. However, it saw a decline to Rs 1,005 per sq.ft in 2017, which was a 33% decrease. The most recent revision in 2024 set the value at Rs 1,600 per sq.ft, representing a 59% increase from the 2017 figure. Notably, there is no figure available for the year 2023 for this street.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 5,500 per sq.ft, with a median value of Rs 2,400 per sq.ft. Swami Nagar's 2024 guideline value is below this median.

• Tagore Street (J.B. Nagar): Rs 2,400 per sq.ft (2024)
• Tagore Street (Senthil Nagar): Rs 2,700 per sq.ft (2024)
• Suresh Bhavanam (Vivekannadhar Nagar): Rs 2,700 per sq.ft (2024)
• Tank Street: Rs 2,400 per sq.ft (2024)
• Sudhar Sanam Nagar (S.No. 121 to 169): Rs 1,100 per sq.ft (2024)
• Sudarshanam Nagar (S.No. 357,359): Rs 2,700 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 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total cost to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, 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 Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Thirumullaivoyal. It is used to determine the stamp duty and registration fees payable when buying or selling a property. The authorities assess the property based on the guideline value to ensure that the correct fees are collected.

When a property is registered, the guideline value serves as a benchmark for the transaction. Buyers and sellers must be aware of this value to understand the financial implications of their property dealings in the area.

Frequently asked questions

What is the current guideline value of Swami Nagar?

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

How has the guideline value changed over the years?

The guideline value has experienced several revisions, starting from Rs 138 per sq.ft in 2002 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of 1059%.

What is the land classification for Swami Nagar?

Swami Nagar is classified as Residential Class III Type - I, which is important for understanding its use and development potential.

Where can I find the Sub Registrar Office for Swami Nagar?

The Sub Registrar Office for Swami Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for properties in Swami Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a total of Rs 1,44,000 in fees.