Guideline Value for ROMAA MAJESTIC

Romaa Majestic guideline value

The current guideline value of Romaa Majestic is Rs 2,350 per sq.ft, effective from 1 July 2024. This property is located in Parivakkam village and falls under the Poonamallee SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Romaa Majestic has changed

The guideline value for Romaa Majestic has seen several revisions over the years. In the 2017 revision, the value was set at Rs 2,144 per sq.ft. This figure remained unchanged in the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 2,350 per sq.ft, marking a 10% rise from the previous year.

Overall, from the 2017 revision to the 2024 revision, there has been a 10% increase in the guideline value. It is important to note that for the years 2002, 2003, 2007, and 2012, the register has no figure for this street.

Guideline values in Parivakkam

In Parivakkam, there are 31 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 6,750 per sq.ft. The median guideline value for the village is Rs 1,800 per sq.ft, placing Romaa Majestic's 2024 figure above this median.

• Sairam City: Rs 990 per sq.ft (2024)
• Prime Gardens: Rs 1,440 per sq.ft (2024)
• Pav Green Field: Rs 3,000 per sq.ft (2024)
• Srinivasa Nagar: Rs 1,320 per sq.ft (2024)
• Oom Sundaram Nagar: Rs 1,550 per sq.ft (2024)
• Om Sakthi Nagar: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Romaa Majestic

For a 1,000 sq.ft plot at the current guideline value of Rs 2,350 per sq.ft, the total guideline value would be Rs 23,50,000. The stamp duty, charged at 7%, would amount to Rs 1,64,500, and the registration fee at 2% would be Rs 47,000, bringing the total to Rs 2,11,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Romaa Majestic?

The Romaa Majestic property 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 Parivakkam

The guideline value is a critical factor in the registration process when buying or selling property in Parivakkam. It determines the minimum value at which the property can be registered, ensuring that the transaction is documented at a fair value.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Romaa Majestic?

The current guideline value of Romaa Majestic is Rs 2,350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,144 per sq.ft in 2017 to Rs 2,350 per sq.ft in 2024, reflecting a 10% increase. There was no change in the value between 2017 and 2023.

What are the guideline values for other streets in Parivakkam?

Other streets in Parivakkam have varying guideline values, ranging from Rs 660 to Rs 6,750 per sq.ft. For instance, Sairam City is valued at Rs 990 per sq.ft, while Pav Green Field is at Rs 3,000 per sq.ft.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2%. For example, a 1,000 sq.ft plot at the current rate would incur a total of Rs 2,11,500 in fees.

Where can I find the relevant Sub Registrar Office?

The Poonamallee Sub Registrar Office covers Romaa Majestic and is located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find more details about your SRO online.