Guideline Value for Swamymalai Nagar II M.Rd&R.K.Nagar

Swamymalai Nagar II M.Rd&R.K.Nagar guideline value

The current guideline value for Swamymalai Nagar II M.Rd&R.K.Nagar is Rs 2,160 per sq.ft, effective from 1 July 2024. This area is located in Zaminpallavaram village, under the Pallavaram SRO, classified as Residential Class III Type - I.

How the guideline value of Swamymalai Nagar II M.Rd&R.K.Nagar has changed

Over the years, the guideline value for Swamymalai Nagar II M.Rd&R.K.Nagar has seen significant changes. In 2003, the guideline value was Rs 179 per sq.ft. This increased to Rs 600 per sq.ft in 2007, marking a substantial rise of 235%. The value then jumped to Rs 2,000 per sq.ft in 2012, reflecting an increase of 233%. However, it decreased to Rs 1,340 per sq.ft in 2017, a drop of 33%. The value then rose to Rs 2,000 per sq.ft in 2023, and most recently, it increased to Rs 2,160 per sq.ft in 2024, representing an 8% increase.

Overall, from 2003 to 2024, the guideline value has increased by 1,107%. It is important to note that the register has no figure for this street in 2002.

Guideline values in Zaminpallavaram

Zaminpallavaram village 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 value for these streets is Rs 3,300 per sq.ft, placing Swamymalai Nagar II M.Rd&R.K.Nagar's 2024 figure below that median.

• Swamy Nagar: Rs 3,520 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 Swamymalai Nagar II M.Rd&R.K.Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value amounts to Rs 21,60,000. The stamp duty at 7% would be Rs 1,51,200, and the registration fee at 2% would be Rs 43,200, bringing the total charges to Rs 1,94,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Swamymalai Nagar II M.Rd&R.K.Nagar?

The Sub Registrar Office that covers Swamymalai Nagar II M.Rd&R.K.Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, 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 property transactions in Zaminpallavaram. It serves as the basis for calculating the stamp duty and registration fees when a property is bought or sold. Buyers and sellers must be aware of this value to understand their financial obligations during the registration process.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties. This ensures that the government receives the appropriate revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value for Swamymalai Nagar II M.Rd&R.K.Nagar?

The current guideline value for Swamymalai Nagar II M.Rd&R.K.Nagar is Rs 2,160 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 179 per sq.ft in 2003 to Rs 2,160 per sq.ft in 2024, reflecting an overall increase of 1,107% over this period.

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

The stamp duty is charged at 7%, and the registration fee is charged at 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office located for this area?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

What is the median guideline value for streets in Zaminpallavaram?

The median guideline value for streets in Zaminpallavaram is Rs 3,300 per sq.ft, with Swamymalai Nagar II M.Rd&R.K.Nagar's 2024 figure being below this median.