Guideline Value for ROYAL AVENUE-II

Royal Avenue-II guideline value

The current guideline value of Royal Avenue-II is Rs 250 per sq.ft, effective from 1 July 2024. This street is located in Pazhayaseevaram -A village, under the Walajabad SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Royal Avenue-II has changed

In the 2017 revision, the guideline value was set at Rs 167 per sq.ft. This figure remained unchanged in the 2023 revision, where it was still Rs 250 per sq.ft. The most recent 2024 revision also maintained the guideline value at Rs 250 per sq.ft, resulting in a 50% increase from the 2017 figure to the 2024 figure.

There are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street. Therefore, the guideline value has seen a consistent figure of Rs 250 per sq.ft from 2023 to 2024, indicating no change during that period.

Guideline values in Pazhayaseevaram -A

In Pazhayaseevaram -A, there are 26 streets under the Walajabad SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 500 per sq.ft. The median guideline value for this area is Rs 350 per sq.ft, making the 2024 figure for Royal Avenue-II below that median.

• Pjr Temple Gate: Rs 500 per sq.ft (2024)
• Pazhayaseevaram Madhura Sankarapuram: Rs 250 per sq.ft (2024)
• Sri Arunachala City Phase-III: Rs 200 per sq.ft (2024)
• Sri Arunachalacity Phase-IV: Rs 500 per sq.ft (2024)
• Sri Balaji Nagar: Rs 500 per sq.ft (2024)
• Palm Avenue Part-I,II,III: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Royal Avenue-II

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value would be Rs 2,50,000. The stamp duty at 7% would amount to Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total fees to Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Royal Avenue-II?

The Royal Avenue-II is covered by the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Pazhayaseevaram -A

The guideline value is an essential factor during the registration of property transactions in Pazhayaseevaram -A. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When buying or selling property, the guideline value ensures that the transaction is recorded at a standardized value, which helps in maintaining transparency in property dealings. This value is crucial for both the buyer and seller, as it affects the overall cost involved in the registration process.

Frequently asked questions

What is the current guideline value of Royal Avenue-II?

The current guideline value of Royal Avenue-II is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Royal Avenue-II was Rs 167 per sq.ft in 2017, which increased to Rs 250 per sq.ft in 2023 and remained the same in 2024, resulting in a 50% increase overall from 2017 to 2024.

What are the stamp duty and registration fees for property in Royal Avenue-II?

For a property valued at Rs 2,50,000, the stamp duty would be Rs 17,500, and the registration fee would be Rs 5,000, totaling Rs 22,500. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Royal Avenue-II?

The Walajabad Sub Registrar Office covers Royal Avenue-II, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

What is the land classification for Royal Avenue-II?

The land classification for Royal Avenue-II is Residential Class II Type - I, indicating its designation for residential purposes.