Guideline Value for Swami Naicken Street

Swami Naicken Street guideline value

The current guideline value of Swami Naicken Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Chindadripet village, under the Periamet SRO, and is classified as Residential Special Type - I.

How the guideline value of Swami Naicken Street has changed

Over the years, the guideline value for Swami Naicken Street has seen various revisions. The 2007 revision set the value at Rs 4,000 per sq.ft, which increased to Rs 6,000 per sq.ft in 2012. However, in 2017, the value dropped to Rs 4,020 per sq.ft before rising significantly to Rs 6,000 per sq.ft in the 2023 revision. The latest revision in 2024 has set the guideline value at Rs 6,600 per sq.ft, marking a 10% increase from the previous year.

In terms of percentage changes, the guideline value rose by 49% from 2017 to 2023, decreased by 33% from 2012 to 2017, and increased by 50% from 2007 to 2012. Overall, from 2007 to 2024, the guideline value has increased by 65%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Chindadripet

In Chindadripet, there are 98 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,500 to Rs 18,100 per sq.ft, with a median value of Rs 3,300 per sq.ft. Swami Naicken Street's 2024 guideline value is above this median.

• Sunguwar Agraharam Street: Rs 5,500 per sq.ft (2024)
• Subban Street: Rs 3,300 per sq.ft (2024)
• Thiyagaraja Stret(Varadarajapuram): Rs 2,500 per sq.ft (2024)
• Thulukkanam Street: Rs 2,500 per sq.ft (2024)
• Ulagappa maistry street: Rs 6,600 per sq.ft (2024)
• Siyali amman Koil Street: Rs 2,600 per sq.ft (2024)

Stamp duty and registration fee for property in Swami Naicken Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty, charged at 7%, would be Rs 4,62,000, while the registration fee at 2% would be Rs 1,32,000, bringing the total fees to Rs 5,94,000. Please 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 further assistance.

Which Sub Registrar Office covers Swami Naicken Street?

The Sub Registrar Office that covers Swami Naicken Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Chindadripet. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that all property transactions are conducted fairly and transparently, in accordance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Swami Naicken Street?

The current guideline value of Swami Naicken Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 65% over this period.

What is the land classification for Swami Naicken Street?

Swami Naicken Street is classified as Residential Special Type - I under the current guidelines.

Where can I find the registration office for Swami Naicken Street?

The registration office for Swami Naicken Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is stamp duty calculated for properties in Chindadripet?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 66,00,000 would incur a stamp duty of Rs 4,62,000 at the rate of 7%.