Guideline Value for Swathi Street

Swathi Street guideline value

The current guideline value of Swathi Street in Kovilpathagai village, under the Ambattur SRO, is Rs 880 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Swathi Street has changed

Over the years, the guideline value of Swathi Street has seen several revisions. The 2012 revision recorded a value of Rs 800 per sq.ft, which decreased to Rs 536 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 800 per sq.ft, and the latest revision in 2024 has set the value at Rs 880 per sq.ft, marking a 10% increase from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. The overall change from the 2012 revision to the 2024 revision shows a modest increase of 10%.

Guideline values in Kovilpathagai

In Kovilpathagai, there are 278 streets under the Ambattur SRO that have a 2024 guideline value ranging from Rs 803 to Rs 2,900 per sq.ft, with a median value of Rs 870 per sq.ft. Notably, Swathi Street's 2024 figure is above this median.

• Swathy Garden: Rs 880 per sq.ft (2024)
• Swathy Nagar: Rs 880 per sq.ft (2024)
• Swamy Nagar: Rs 990 per sq.ft (2024)
• Swami Pillai Street: Rs 806 per sq.ft (2024)
• S.V. Nagar: Rs 803 per sq.ft (2024)
• Tank Street: Rs 805 per sq.ft (2024)

Stamp duty and registration fee for property in Swathi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty, charged at 7%, would be Rs 61,600, while the registration fee at 2% would be Rs 17,600, bringing the total fees to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Swathi Street?

The Sub Registrar Office that covers Swathi Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kovilpathagai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

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

Frequently asked questions

What is the current guideline value of Swathi Street?

The current guideline value of Swathi Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the median guideline value in Kovilpathagai?

The median guideline value in Kovilpathagai is Rs 870 per sq.ft, with Swathi Street's current value being above this median.

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

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600, and the registration fee would be Rs 17,600, totaling Rs 79,200.

Which office handles registrations for Swathi Street?

The Ambattur Sub Registrar Office handles registrations for Swathi Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.