Guideline Value for Swathi Nagar

Swathi Nagar guideline value

The current guideline value of Swathi Nagar, located in Sokandi village under the Sunguvarchattram SRO, is Rs 450 per sq.ft. The land classification for this area is Residential Special Type - I.

How the guideline value of Swathi Nagar has changed

Over the years, the guideline value for Swathi Nagar has seen several revisions. The earliest recorded figure is from 2012, which was Rs 450 per sq.ft. This figure remained unchanged in the subsequent revisions of 2017 and 2023. However, in 2017, the value was previously Rs 301 per sq.ft, marking a 50% increase from that year to 2023. The 2024 revision maintains the guideline value at Rs 450 per sq.ft, resulting in a 0% change from 2023.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has seen no change, remaining at Rs 450 per sq.ft.

Guideline values in Sokandi

In Sokandi village, there are 35 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 181 to Rs 1,000 per sq.ft, with a median value of Rs 300 per sq.ft. The guideline value for Swathi Nagar is above this median.

• Swathi Nagar Phase II: Rs 600 per sq.ft (2024)
• Swathi nagar phase - III: Rs 612 per sq.ft (2024)
• Swathy Nagar Phase -V: Rs 450 per sq.ft (2024)
• Thangam Avenue: Rs 450 per sq.ft (2024)
• Thiruvallur Road(Selvapuram to Ponniamman Kovil): Rs 450 per sq.ft (2024)
• Sri devi teak garden: Rs 250 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 450 per sq.ft, the total guideline value amounts to Rs 4,50,000. The stamp duty, charged at 7%, would be Rs 31,500, while the registration fee at 2% would be Rs 9,000. Together, the total charges would amount to Rs 40,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Swathi Nagar?

The Sub Registrar Office that covers Swathi Nagar 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 Sokandi

The guideline value plays a crucial role in property transactions in Sokandi. It serves as a benchmark for determining the minimum price at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these charges are based on a standard valuation.

During the registration process, buyers and sellers must be aware that the stamp duty is calculated on the higher of the guideline value or the sale price. This ensures that the registration fees reflect the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Swathi Nagar?

The current guideline value of Swathi Nagar is Rs 450 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Swathi Nagar has remained at Rs 450 per sq.ft since 2012, with a notable increase from Rs 301 per sq.ft in 2017 to Rs 450 per sq.ft in 2023.

What are the other streets in Sokandi with their guideline values?

Other streets in Sokandi include Swathi Nagar Phase II at Rs 600 per sq.ft, Swathi Nagar Phase III at Rs 612 per sq.ft, and several others, with values ranging from Rs 250 to Rs 1,000 per sq.ft.

How is stamp duty calculated for property in Swathi Nagar?

Stamp duty for property in Swathi Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 4,50,000 would incur a stamp duty of Rs 31,500.

Where is the Sub Registrar Office for Swathi Nagar located?

The Sub Registrar Office covering Swathi Nagar is located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.