Guideline Value for CHENNAI ROYAL CITY

Chennai Royal City guideline value

The current guideline value of Chennai Royal City, located in Vellavedu village under the Poonamallee SRO, is Rs 2,475 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - IV.

How the guideline value of Chennai Royal City has changed

According to the register, there are no figures available for the years 2002, 2003, 2007, 2012, and 2017 for this street. The guideline value for Chennai Royal City was Rs 2,475 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years.

In summary, the 2024 revision maintains the same guideline value as the 2023 revision, which is Rs 2,475 per sq.ft. This consistency reflects stability in the guideline value for this area over these two years.

Guideline values in Vellavedu

In Vellavedu, there are 11 streets under the Poonamallee SRO with a 2024 guideline value range from Rs 550 to Rs 2,475 per sq.ft. The median guideline value for these streets is Rs 1,320 per sq.ft, placing Chennai Royal City's 2024 figure above that median.

• Chennai Royal City "mohan Garden": Rs 2,475 per sq.ft (2024)
• Kamadenu Enclave: Rs 825 per sq.ft (2024)
• New Metro Nagar: Rs 1,660 per sq.ft (2024)
• N.S.R Street: Rs 825 per sq.ft (2024)
• Shree Vaari Garden Phase-I: Rs 1,500 per sq.ft (2024)
• Sree Vaari Garden Phase - II: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Chennai Royal City

For a 1,000 sq.ft plot at the current guideline value of Rs 2,475 per sq.ft, the total guideline value amounts to Rs 24,75,000. The stamp duty at 7% would be Rs 1,73,250, and the registration fee at 2% would be Rs 49,500. Together, these fees total Rs 2,22,750. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Chennai Royal City?

The Chennai Royal City area falls under the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Vellavedu. It serves as a benchmark to determine the minimum value at which properties can be registered, ensuring compliance with local regulations.

When buying or selling property, the guideline value influences the stamp duty and registration fees that buyers must pay. This value is particularly important as it helps in assessing the financial obligations involved in property transactions.

Frequently asked questions

What is the current guideline value of Chennai Royal City?

The current guideline value of Chennai Royal City is Rs 2,475 per sq.ft, effective from 1 July 2024.

How has the guideline value changed recently?

The guideline value for Chennai Royal City has remained the same at Rs 2,475 per sq.ft between the 2023 and 2024 revisions.

What is the land classification for Chennai Royal City?

The land classification for Chennai Royal City is Residential Special Type - IV.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Chennai Royal City is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Chennai Royal City?

The Sub Registrar Office covering Chennai Royal City is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.