Guideline Value for ROYAL CASTLE PHASE-I

Royal Castle Phase-I guideline value

The current guideline value of Royal Castle Phase-I in Kollappancheri village is Rs 2,300 per sq.ft, effective from 1 July 2024. This property falls under the Poonamallee SRO and is classified as Residential Class I Type - II.

How the guideline value of Royal Castle Phase-I has changed

The guideline value register shows that there have been revisions over the years, but there are no figures for Royal Castle Phase-I for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision also recorded the guideline value at Rs 2,300 per sq.ft, which remained unchanged in the 2024 revision.

From 2023 to 2024, the guideline value saw no percentage change, remaining at Rs 2,300 per sq.ft. This consistency reflects the median value for the streets in Kollappancheri, which is also Rs 2,300 per sq.ft.

Guideline values in Kollappancheri

In Kollappancheri, there are seven streets under the Poonamallee SRO with a 2024 guideline value ranging from Rs 550 to Rs 2,900 per sq.ft. The guideline value for Royal Castle Phase-I is equal to the median of Rs 2,300 per sq.ft. Below are the guideline values for other streets in Kollappancheri:

• Royal Castle Phase - II: Rs 2,300 per sq.ft (2024)
• Rakesh Avenue: Rs 1,720 per sq.ft (2024)
• Kamatchi Nagar 5/28b: Rs 1,720 per sq.ft (2024)
• Kamachi Nagar: Rs 550 per sq.ft (2024)
• Homeland Klassic: Rs 2,900 per sq.ft (2024)
• Chaitanya Avenue: Rs 2,300 per sq.ft (2024)

Stamp duty and registration fee for property in Royal Castle Phase-I

For a 1,000 sq.ft plot at the current guideline value of Rs 2,300 per sq.ft, the total guideline value would be Rs 23,00,000. The stamp duty at 7% would amount to Rs 1,61,000, and the registration fee at 2% would be Rs 46,000, bringing the total to Rs 2,07,000. Note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Royal Castle Phase-I?

The Royal Castle Phase-I falls under the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kollappancheri. 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 sold, the guideline value is compared with the sale price, and the duty is charged on whichever amount is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Royal Castle Phase-I?

The current guideline value of Royal Castle Phase-I is Rs 2,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 2,300 per sq.ft since the 2023 revision, with no changes recorded in the 2024 revision. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the classification of the land for Royal Castle Phase-I?

Royal Castle Phase-I is classified as Residential Class I Type - II, indicating its designation for residential development.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For example, for a 1,000 sq.ft property, the total stamp duty and registration fees would amount to Rs 2,07,000.

Where can I find the Sub Registrar Office for Royal Castle Phase-I?

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