Guideline Value for Swamy Nathan Street

Swamy Nathan Street guideline value

The current guideline value of Swamy Nathan Street is Rs 4,100 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Swamy Nathan Street has changed

The guideline value for Swamy Nathan Street has seen several revisions over the years. In 2007, the value was Rs 800 per sq.ft, which increased significantly to Rs 3,750 per sq.ft in 2012, marking a 369% rise. However, between 2012 and 2017, the value decreased to Rs 2,512 per sq.ft, a drop of 33%. The value then rose again to Rs 3,750 per sq.ft in 2023, showing a 49% increase from the 2017 figure. The most recent revision in 2024 set the value at Rs 4,100 per sq.ft, reflecting a 9% increase from 2023.

The register has no figures for Swamy Nathan Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 413%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 4,900 per sq.ft. Swamy Nathan Street's 2024 figure of Rs 4,100 per sq.ft is below this median.

• S.V. Nagarathinam Street: Rs 4,100 per sq.ft (2024)
• S.V. Lingam (Road) (Salai): Rs 7,000 per sq.ft (2024)
• S.V. Chidambaram Salai Block 78: Rs 4,900 per sq.ft (2024)
• Susila Street: Rs 4,100 per sq.ft (2024)
• Sunday Observer Balasubramaniyam Street: Rs 4,900 per sq.ft (2024)
• Sundar Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Swamy Nathan Street

For a 1,000 sq.ft plot at the current rate of Rs 4,100 per sq.ft, the guideline value amounts to Rs 41,00,000. The stamp duty at 7% would be Rs 2,87,000, and the registration fee at 2% would be Rs 82,000, totaling Rs 3,69,000. 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 Nathan Street?

The Sub Registrar Office that covers Swamy Nathan Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Kodambakkam. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers should be aware of the guideline value to ensure they comply with the legal requirements during property transactions.

When a property is sold, the guideline value is considered to assess the applicable fees, which are based on the higher of the guideline value or the sale price. This ensures that the registration process is transparent and adheres to the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Swamy Nathan Street?

The current guideline value of Swamy Nathan Street is Rs 4,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 4,100 per sq.ft in 2024, marking an overall increase of 413% over the years.

What is the land classification for Swamy Nathan Street?

Swamy Nathan Street is classified as Residential Class IV Type - I.

Where can I find the Sub Registrar Office for Swamy Nathan Street?

The Sub Registrar Office for Swamy Nathan Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Swamy Nathan Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 41,00,000, the stamp duty would be Rs 2,87,000 at 7%.