Guideline Value for Swasthik Nagar

Swasthik Nagar guideline value

The current guideline value of Swasthik Nagar, located in Grandlyon village under the Redhills SRO, is Rs 440 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Swasthik Nagar has changed

The guideline value for Swasthik Nagar has seen several revisions over the years. In 2007, the value was Rs 200 per sq.ft, which increased to Rs 400 per sq.ft in 2012, marking a 100% rise. However, it decreased to Rs 268 per sq.ft in 2017, a decline of 33%. The value then rose significantly to Rs 400 per sq.ft in 2023, and further increased to Rs 440 per sq.ft in 2024, reflecting a 10% increase.

Between the 2017 and 2023 revisions, the guideline value increased by 49%. Overall, from 2007 to 2024, there has been a total increase of 120%. The register does not provide figures for the years 2002 and 2003 for this street.

Guideline values in Grandlyon

In Grandlyon village, 82 streets are under the Redhills SRO, with 2024 guideline values ranging from Rs 440 to Rs 1,500 per sq.ft. The median value for these streets is Rs 660 per sq.ft, placing Swasthik Nagar's 2024 figure below this median.

• TamilNadu Dyes and Chemicals Merchants Association Nagar: Rs 660 per sq.ft (2024)
• Thanikachalam Street: Rs 660 per sq.ft (2024)
• Sri Selva Vinayagar Nagar Annex: Rs 440 per sq.ft (2024)
• Sri Selva Vinayagar Nagar: Rs 440 per sq.ft (2024)
• Thiruneelagandan Nagar: Rs 440 per sq.ft (2024)
• Thiruneelakandar fourth Part: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Swasthik Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty, charged at 7%, amounts to Rs 30,800, while the registration fee at 2% is Rs 8,800, bringing the total fees to Rs 39,600. Duty is charged on the guideline value or the sale price, whichever is higher. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Swasthik Nagar?

The Sub Registrar Office that covers Swasthik Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Grandlyon. It is used to determine the stamp duty and registration fees that must be paid at the time of registration.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Swasthik Nagar?

The current guideline value of Swasthik Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 440 per sq.ft in 2024, with various increases and a decrease in between. The most recent revision in 2024 saw a 10% increase from the previous year.

What is the registration office for Swasthik Nagar?

The registration office for Swasthik Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the stamp duty rate for property in Swasthik Nagar?

The stamp duty rate for property in Swasthik Nagar is 7% of the guideline value or the sale price, whichever is higher.

How many streets in Grandlyon have a guideline value?

There are 82 streets in Grandlyon under the Redhills SRO that carry a guideline value for 2024, ranging from Rs 440 to Rs 1,500 per sq.ft.