Guideline Value for Swamy Nagar

Swamy Nagar guideline value

The current guideline value of Swamy Nagar, located in Madhavaram village under the Madhavaram SRO, is Rs 2,200 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 2012, the guideline value was Rs 2,000 per sq.ft, which decreased to Rs 1,340 per sq.ft in 2017. Following this, the value significantly increased to Rs 2,000 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

Between the revisions, the change from 2017 to 2023 saw a notable increase of 49%, while the adjustment from 2012 to 2017 was a decrease of 33%. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

Guideline values in Madhavaram

In Madhavaram village, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. Swamy Nagar's 2024 guideline value of Rs 2,200 per sq.ft is above this median.

• Swamy Nagar 1st Main Road (Ward 11): Rs 2,200 per sq.ft (2024)
• Swamy Nagar Roads ( Ward No.11 ): Rs 2,200 per sq.ft (2024)
• Swamy Nagar (Ward-11): Rs 2,200 per sq.ft (2024)
• Swamy Ramalingam Colony: Rs 2,700 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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the 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 information.

Which Sub Registrar Office covers Swamy Nagar?

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

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

The guideline value is a crucial factor in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

Frequently asked questions

What is the current guideline value of Swamy Nagar?

The current guideline value of Swamy Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

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

Other streets in Madhavaram with similar guideline values include Swamy Nagar 1st Main Road, Swamy Nagar Roads, and Swamy Nagar (Ward-11), all at Rs 2,200 per sq.ft in 2024.

What is the registration fee for property in Swamy Nagar?

The registration fee for property in Swamy Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, on a plot valued at Rs 22,00,000, the registration fee would be Rs 44,000 at 2%.

Where is the Sub Registrar Office for Swamy Nagar located?

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