Guideline Value for ROYAL CASTLE

Royal Castle guideline value

The current guideline value of Royal Castle in Kobarasanallur village, under the Kunrathur SRO, is Rs 1,980 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Special Type - II.

How the guideline value of Royal Castle has changed

The guideline value for Royal Castle has seen several revisions over the years. In 2012, the value was set at Rs 1,800 per sq.ft, which then decreased to Rs 1,206 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,800 per sq.ft in 2023, and then rose again to the current figure of Rs 1,980 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, when looking at the period from 2012 to 2024, the guideline value has increased by 10%. The revisions for the years 2002, 2003, and 2007 do not have any figures recorded for this street.

Guideline values in Kobarasanallur

In Kobarasanallur, there are 28 streets under the Kunrathur SRO that have a 2024 guideline value ranging from Rs 1,650 to Rs 4,180 per sq.ft. The median value for these streets is Rs 1,980 per sq.ft, which is the same as the guideline value for Royal Castle.

• Royal Garden & Annexe: Rs 1,980 per sq.ft (2024)
• R.T.R.Avenue: Rs 3,285 per sq.ft (2024)
• Poonamallee High Road: Rs 4,180 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 1,980 per sq.ft (2024)
• Sree Hari Nagar: Rs 2,750 per sq.ft (2024)
• Sri Devi Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Royal Castle

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total cost for these fees to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Royal Castle?

The Royal Castle property falls under the jurisdiction of the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Kobarasanallur. It helps determine 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 higher amount is used to calculate the applicable fees. This ensures that the fees reflect the property's value accurately at the time of sale.

Frequently asked questions

What is the current guideline value of Royal Castle?

The current guideline value of Royal Castle is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,980 per sq.ft in 2024.

What is the land classification for Royal Castle?

The land classification for Royal Castle is Mixed Special Type - II, indicating its designated use and development potential.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in Kobarasanallur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for the registration fee.