Guideline Value for Swaminathan Street

Swaminathan Street guideline value

The current guideline value of Swaminathan Street, located in Parangimalai village under the Chennai South Joint II SRO, is Rs 3,850 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Swaminathan Street has changed

The guideline value for Swaminathan Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 3,850 per sq.ft, which reflects a 10% increase from Rs 3,500 per sq.ft in 2023. Before that, in 2017, the value was Rs 2,345 per sq.ft, marking a significant 49% increase to the 2023 figure. The 2012 revision also recorded a value of Rs 3,500 per sq.ft, which was a decrease of 33% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 10%.

It is important to note that the register has no figures for Swaminathan Street for the years 2002, 2003, and 2007. Therefore, the recorded values only span from 2012 onwards.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, which is equal to the current guideline value of Swaminathan Street.

• Taduma Street/Nagar: Rs 2,750 per sq.ft (2024)
• Thadikara Swamy Street: Rs 3,850 per sq.ft (2024)
• Subedhar Street: Rs 3,850 per sq.ft (2024)
• Thiruvalluvar Ist, II nd, IIIrd Lane: Rs 3,850 per sq.ft (2024)
• Thiruvalluvar Street: Rs 3,850 per sq.ft (2024)
• Thulasinghapuram: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Swaminathan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total fees together to Rs 3,46,500. 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 Swaminathan Street?

The Sub Registrar Office that covers Swaminathan Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Parangimalai, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that are payable during the transaction process.

When registering a property, the guideline value ensures that the transaction is documented at a value that reflects the current market conditions, thus providing a standardized approach to property registration. Buyers and sellers must be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Swaminathan Street?

The current guideline value of Swaminathan Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,345 per sq.ft in 2017 to Rs 3,500 per sq.ft in 2023, and now to Rs 3,850 per sq.ft in 2024. This represents a 10% increase from 2023 to 2024 and a 49% increase from 2017 to 2023.

What is the land classification of Swaminathan Street?

Swaminathan Street falls under the Residential Class II Type - I land classification.

What are the other streets in Parangimalai with similar guideline values?

Other streets in Parangimalai with a guideline value of Rs 3,850 per sq.ft include Thadikara Swamy Street, Subedhar Street, Thiruvalluvar Ist, II nd, IIIrd Lane, and Thiruvalluvar Street.

Where can I find the Sub Registrar Office for Swaminathan Street?

The Sub Registrar Office for Swaminathan Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find more details online.