Guideline Value

Corporate

Guideline Value for Swamy Nagar Extension

₹2750/sq.ft.

The guideline value for Swamy Nagar Extension in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 2750 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madipakkam-1

Village

Velacheri

SRO

Residential Class I Type - III
History
Period Guideline Value
From 1-7-2024 ₹2750 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 N/A
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Swamy Nagar Extension

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Swamy Nagar Extension guideline value

The current guideline value for Swamy Nagar Extension is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class I Type - III.

How the guideline value of Swamy Nagar Extension has changed

The guideline value for Swamy Nagar Extension has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,750 per sq.ft, an increase from Rs 2,500 per sq.ft in the 2023 revision, reflecting a change of +10%. Prior to 2023, the register has no figures for the years 2017, 2012, 2007, 2003, and 2002.

In summary, the guideline value was Rs 2,500 per sq.ft in 2023 and increased to Rs 2,750 per sq.ft in 2024. The earlier revisions do not have figures recorded for this street, indicating that the current value aligns with the median guideline value for the area.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value is Rs 2,750 per sq.ft, which is the same as the guideline value for Swamy Nagar Extension.

Stamp duty and registration fee for property in Swamy Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, leading to a total cost of Rs 2,47,500. 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 accurate calculations based on your specific property details.

Which Sub Registrar Office covers Swamy Nagar Extension?

The Sub Registrar Office that covers Swamy Nagar Extension is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor in the registration process when buying or selling property in Madipakkam-1. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures transparency and compliance with regulatory requirements during property transactions.

Frequently asked questions

What is the current guideline value of Swamy Nagar Extension?

The current guideline value of Swamy Nagar Extension is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value changed from Rs 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024, marking a +10% increase. There are no recorded figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

What is the classification of land in Swamy Nagar Extension?

Swamy Nagar Extension is classified as Residential Class I Type - III, indicating its suitability for residential development.

What are the stamp duty and registration fees for a property in this area?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 27,50,000, the total stamp duty and registration fees would amount to Rs 2,47,500.

Where can I find the Sub Registrar Office for Swamy Nagar Extension?

The Velacheri Sub Registrar Office covers Swamy Nagar Extension and is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.