Guideline Value for Swathi Nagar Phase I-IV

Swathi Nagar Phase I-IV guideline value

The current guideline value for Swathi Nagar Phase I-IV is Rs 350 per sq.ft, effective from 1 July 2024. This area is located in Ulunthai village, under the Sunguvarchattram SRO, and is classified as Residential Class I Type - II.

How the guideline value of Swathi Nagar Phase I-IV has changed

In the 2012 revision, the guideline value was set at Rs 300 per sq.ft. This figure saw a decrease of 33% by the 2017 revision, where it was revised to Rs 201 per sq.ft. Subsequently, the value increased significantly by 74% in the 2023 revision, bringing it back up to Rs 350 per sq.ft. The 2024 revision maintained this value, showing no change from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 17%.

Guideline values in Ulunthai

In Ulunthai village, there are 27 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 426 per sq.ft. The median value for these streets is Rs 150 per sq.ft, indicating that the guideline value for Swathi Nagar Phase I-IV is above this median.

• Swathi Land: Rs 426 per sq.ft (2024)
• udaiyar Street: Rs 150 per sq.ft (2024)
• Vadukar Colony: Rs 150 per sq.ft (2024)
• SriMathi Nagar: Rs 150 per sq.ft (2024)
• Vayaloor Road: Rs 150 per sq.ft (2024)
• Sivan Kovil Street: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Swathi Nagar Phase I-IV

For a 1,000 sq.ft plot at the current guideline value of Rs 350 per sq.ft, the total guideline value would be Rs 3,50,000. The stamp duty is charged at 7%, amounting to Rs 24,500, and the registration fee is 2%, which is Rs 7,000. Therefore, the total cost for stamp duty and registration fees would be Rs 31,500. 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 precise calculations.

Which Sub Registrar Office covers Swathi Nagar Phase I-IV?

The Sub Registrar Office that covers Swathi Nagar Phase I-IV is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value is a key factor in the registration process for property transactions in Ulunthai. It determines the amount of stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the registration reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Swathi Nagar Phase I-IV?

The current guideline value for Swathi Nagar Phase I-IV is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent revisions being Rs 350 per sq.ft in both 2023 and 2024. It was Rs 201 per sq.ft in 2017 and Rs 300 per sq.ft in 2012.

What is the median guideline value for streets in Ulunthai?

The median guideline value for streets in Ulunthai is Rs 150 per sq.ft, with Swathi Nagar Phase I-IV's value being above this median.

What are the stamp duty and registration fees for properties in Swathi Nagar Phase I-IV?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 3,50,000, the total fees would amount to Rs 31,500.

Which office handles property registrations for Swathi Nagar Phase I-IV?

The Sunguvarchattram Sub Registrar Office is responsible for property registrations in Swathi Nagar Phase I-IV, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu.