Guideline Value for Swamy Nagar

Swamy Nagar guideline value

The current guideline value of Swamy Nagar, located in Zaminpallavaram village under the Pallavaram SRO, is Rs 3,520 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Swamy Nagar has changed

The guideline value for Swamy Nagar has undergone several revisions over the years. In 2003, the guideline value was Rs 136 per sq.ft, which increased to Rs 600 per sq.ft in 2007. This marked a significant increase of 341%. The value then rose dramatically to Rs 3,200 per sq.ft in 2012, reflecting a 433% increase from the previous revision. However, in 2017, the value decreased to Rs 2,144 per sq.ft, a drop of 33%. The most recent revision in 2024 saw the guideline value rise to Rs 3,520 per sq.ft, representing a 64% increase from 2017. Overall, from 2003 to 2024, the guideline value has increased by 2,488%.

The register has no figures for the years 2023 and 2002 for this street.

Guideline values in Zaminpallavaram

Zaminpallavaram has a total of 638 streets under the Pallavaram SRO, with 2024 guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, placing Swamy Nagar's 2024 figure above that median.

• Swamymalai Nagar II M.Rd&R.K.Nagar: Rs 2,160 per sq.ft (2024)
• Surya Avenue: Rs 3,520 per sq.ft (2024)
• Sunnambukalvai Street: Rs 3,300 per sq.ft (2024)
• Sunnambu Kalvai Kudiirruppu Kuttai (G.S.T. Road): Rs 3,300 per sq.ft (2024)
• Sunnambukalvai 2nd Street: Rs 3,300 per sq.ft (2024)
• Telephone Exchange Qurs.: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Swamy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400. Therefore, the total cost for stamp duty and registration fees together would be Rs 3,16,800. 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 details.

Which Sub Registrar Office covers Swamy Nagar?

The Sub Registrar Office that covers Swamy Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Zaminpallavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

During the registration process, the guideline value is compared to the sale price of the property. The higher of the two values is used to calculate the applicable stamp duty and registration fees. This ensures that the fees reflect the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Swamy Nagar?

The current guideline value of Swamy Nagar is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 136 per sq.ft in 2003 to Rs 3,520 per sq.ft in 2024, reflecting an overall increase of 2,488% over the years.

What is the land classification of Swamy Nagar?

Swamy Nagar is classified as Residential Class I Type - I, indicating its designation for residential purposes.

What are the stamp duty and registration fees for property in Swamy Nagar?

For a 1,000 sq.ft plot, the total guideline value is Rs 35,20,000. The stamp duty would be Rs 2,46,400, and the registration fee would be Rs 70,400, totaling Rs 3,16,800.

Which office handles registrations for Swamy Nagar?

The Pallavaram Sub Registrar Office handles registrations for Swamy Nagar, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.