Guideline Value for Swamy Nagar Roads ( Ward No.11 )

Swamy Nagar Roads ( Ward No.11 ) guideline value

The current guideline value of Swamy Nagar Roads ( Ward No.11 ) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Swamy Nagar Roads ( Ward No.11 ) has changed

In the 2012 revision, the guideline value was Rs 2,000 per sq.ft. The latest revision in 2024 saw an increase of 10%, bringing the value to Rs 2,200 per sq.ft. The register has no figures for the years 2023, 2017, 2007, 2003, and 2002 for this street.

Thus, the only revisions available for Swamy Nagar Roads ( Ward No.11 ) are from 2012 and 2024, reflecting a significant increase in the guideline value over this period.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value across these streets is Rs 1,600 per sq.ft, placing Swamy Nagar Roads ( Ward No.11 ) above this median.

• Swamy Nagar (Ward-11): Rs 2,200 per sq.ft (2024)
• Swamy Nagar 1st Main Road (Ward 11): Rs 2,200 per sq.ft (2024)
• Swamy Ramalingam Colony: Rs 2,700 per sq.ft (2024)
• Swamy Nagar: Rs 2,200 per sq.ft (2024)
• S.V.Koil st ( Ward No.10 ): Rs 1,300 per sq.ft (2024)
• Surya Road: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Swamy Nagar Roads ( Ward No.11 )

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. 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 Swamy Nagar Roads ( Ward No.11 )?

The Sub Registrar Office that covers Swamy Nagar Roads ( Ward No.11 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Madhavaram. It serves as a benchmark for calculating the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the higher value between the guideline value and the sale price is used to determine the applicable duties and fees. This ensures that the government receives the correct revenue based on the property's value.

Frequently asked questions

What is the current guideline value for Swamy Nagar Roads ( Ward No.11 )?

The current guideline value for Swamy Nagar Roads ( Ward No.11 ) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Swamy Nagar Roads ( Ward No.11 ) was Rs 2,000 per sq.ft in 2012 and increased to Rs 2,200 per sq.ft in 2024. There are no figures available for the years 2023, 2017, 2007, 2003, and 2002.

What is the land classification for Swamy Nagar Roads ( Ward No.11 )?

The land classification for Swamy Nagar Roads ( Ward No.11 ) is Residential Class I Type - I. This classification indicates the type of development permissible in the area.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.

How is the stamp duty calculated for properties in Swamy Nagar Roads ( Ward No.11 )?

Stamp duty for properties in Swamy Nagar Roads ( Ward No.11 ) is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees can be calculated accordingly.