Guideline Value for Swathi Nagar

Swathi Nagar guideline value

The current guideline value of Swathi Nagar, located in Perumattu Nellore village under the Chengleput Joint II SRO, is Rs 700 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Swathi Nagar has changed

The guideline value for Swathi Nagar has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 175 per sq.ft. This increased significantly to Rs 700 per sq.ft in 2012, marking a rise of 300%. However, the value dropped to Rs 469 per sq.ft in 2017, a decrease of 33%. The 2023 revision maintained the value at Rs 700 per sq.ft, and the same value continues into the 2024 revision, indicating no change from the previous year.

There are no figures available for the years 2002 and 2003 for this street in the register. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 300%.

Guideline values in Perumattu Nellore

In Perumattu Nellore, there are 83 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 500 to Rs 2,850 per sq.ft. The median value for these streets is Rs 700 per sq.ft, which aligns with the guideline value of Swathi Nagar.

• Tamil Issai Nagar Part-I: Rs 700 per sq.ft (2024)
• Teacher Sumangali Nagar: Rs 700 per sq.ft (2024)
• Thangappapuram: Rs 700 per sq.ft (2024)
• Suka Dev Residency: Rs 500 per sq.ft (2024)
• The Central Govt Staff Cooprative Nagar: Rs 500 per sq.ft (2024)
• Subamangala Nagar: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Swathi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total to Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Swathi Nagar?

Swathi Nagar falls under the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Perumattu Nellore. It is used to determine the stamp duty and registration fees that buyers and sellers must pay during the registration process. This value ensures that the transaction is recorded at an official rate, which helps maintain transparency in the real estate market.

When purchasing property, the guideline value serves as a reference point for both buyers and sellers. It is essential for calculating the total costs involved in the transaction, ensuring that all parties are aware of the financial obligations tied to the sale.

Frequently asked questions

What is the current guideline value of Swathi Nagar?

The current guideline value of Swathi Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most notable increase occurring from Rs 175 per sq.ft in 2007 to Rs 700 per sq.ft in 2012. The value has remained at Rs 700 per sq.ft since 2012, with no change from 2023 to 2024.

What is the land classification for Swathi Nagar?

Swathi Nagar is classified as Residential Special Type - II, indicating its use for residential purposes within the area.

What are the stamp duty and registration fees for a property in Swathi Nagar?

For a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000 and the registration fee would be Rs 14,000, totaling Rs 63,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more details about this office through the provided link.