Guideline Value for Swathi nagar phase - III

Swathi nagar phase - III guideline value

The current guideline value of Swathi nagar phase - III is Rs 612 per sq.ft, effective from 1 July 2024. This area is located in Sokandi village and falls under the Sunguvarchattram SRO. The land classification for this street is Residential Class III Type - I.

How the guideline value of Swathi nagar phase - III has changed

The guideline value for Swathi nagar phase - III has undergone several revisions over the years. The earliest recorded figure is from 2017, which was Rs 410 per sq.ft. This value increased to Rs 612 per sq.ft in both the 2023 and 2024 revisions, reflecting a significant change of 49% from 2017 to 2023 and maintaining that same value into 2024. Notably, there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

From 2023 to 2024, there was no change in the guideline value, remaining at Rs 612 per sq.ft. Overall, the guideline value has increased by 49% from the 2017 revision to the current 2024 revision.

Guideline values in Sokandi

Sokandi village has 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 phase - III is above this median.

• Swathi Nagar Phase II: Rs 600 per sq.ft (2024)
• Swathy Nagar Phase -V: Rs 450 per sq.ft (2024)
• Swathi Nagar: 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 phase - III

For a 1,000 sq.ft plot at the current rate of Rs 612 per sq.ft, the guideline value amounts to Rs 6,12,000. The stamp duty at 7% would be Rs 42,840, and the registration fee at 2% would be Rs 12,240, totaling Rs 55,080. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Swathi nagar phase - III?

The Sub Registrar Office that covers Swathi nagar phase - III 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 is a crucial factor in the registration process when buying or selling property in Sokandi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared with the sale price, and the duty is charged on the higher of the two amounts. This ensures that the government receives the appropriate fees based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Swathi nagar phase - III?

The current guideline value of Swathi nagar phase - III is Rs 612 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 410 per sq.ft in 2017 to Rs 612 per sq.ft in both 2023 and 2024, reflecting a 49% increase over this period.

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, Swathy Nagar Phase -V at Rs 450 per sq.ft, and several others, with values ranging from Rs 250 to Rs 600 per sq.ft.

How is stamp duty calculated for properties in Swathi nagar phase - III?

Stamp duty for properties in Swathi nagar phase - III is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 55,080.

Where is the Sub Registrar Office for Swathi nagar phase - III located?

The Sub Registrar Office for Swathi nagar phase - III is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.