Guideline Value for Swathy Nagar

Swathy Nagar guideline value

The current guideline value of Swathy Nagar is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Kovilpathagai village and falls under the Ambattur SRO, classified as Residential Class II Type - I.

How the guideline value of Swathy Nagar has changed

The guideline value for Swathy Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 800 per sq.ft, which then decreased to Rs 536 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 800 per sq.ft, and the most recent 2024 revision raised it further to Rs 880 per sq.ft, marking a 10% increase from the previous year.

Between the revisions, the changes include a 49% increase from 2017 to 2023, while the period from 2012 to 2017 saw a decrease of 33%. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kovilpathagai

Kovilpathagai village has 278 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 803 to Rs 2,900 per sq.ft. The median value for these streets is Rs 870 per sq.ft, placing Swathy Nagar's 2024 figure above this median.

• Swathy Garden: Rs 880 per sq.ft (2024)
• Swathi Street: 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 Swathy Nagar

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 is charged at 7%, totaling Rs 61,600, while the registration fee at 2% amounts to Rs 17,600. Together, these fees add up to Rs 79,200. Duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Swathy Nagar?

The Sub Registrar Office that covers Swathy Nagar 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 details.

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

The guideline value plays a crucial role in property transactions in Kovilpathagai. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property. This ensures that the fees are based on a standardized value set by the authorities.

When a property is sold, the guideline value is referenced to calculate the applicable stamp duty and registration fees. Buyers and sellers must be aware of these values to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Swathy Nagar?

The current guideline value of Swathy Nagar 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 land classification for Swathy Nagar?

Swathy Nagar is classified as Residential Class II Type - I, indicating its designation for residential purposes.

Where can I find the Sub Registrar Office for Swathy Nagar?

The Sub Registrar Office for Swathy Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for properties in Swathy Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 880 per sq.ft, the stamp duty amounts to Rs 61,600.