Guideline Value for ROYAL CITY PHASE-III

Royal City Phase-III guideline value

The current guideline value of Royal City Phase-III is Rs 175 per sq.ft, effective from 1 July 2024. This area is located in Pusivakkam village under the Walajabad SRO, classified as Residential Special Type - III.

How the guideline value of Royal City Phase-III has changed

The guideline value for Royal City Phase-III has seen several revisions over the years. In 2012, the value was Rs 150 per sq.ft. This was followed by a decrease to Rs 100 per sq.ft in 2017. However, from 2017 to 2023, the value increased significantly to Rs 150 per sq.ft, and then rose again to Rs 175 per sq.ft in the 2024 revision.

Overall, from 2012 to 2024, the guideline value has increased by 17%. The changes between revisions are as follows: from 2012 to 2017, there was a decrease of 33%; from 2017 to 2023, an increase of 50%; and from 2023 to 2024, an increase of 17%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Pusivakkam

In Pusivakkam, there are 22 streets under the Walajabad SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 598 per sq.ft. The median value for these streets is Rs 150 per sq.ft, making the 2024 figure for Royal City Phase-III above that median.

• Royal City Phase - II: Rs 175 per sq.ft (2024)
• Royal City Phase-I: Rs 175 per sq.ft (2024)
• Sai Ganesh Nagar: Rs 126 per sq.ft (2024)
• Sai Shanmuga Nagar: Rs 350 per sq.ft (2024)
• Sai Thiya Nagar: Rs 126 per sq.ft (2024)
• Sri Chellammal Nagar: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Royal City Phase-III

For a 1,000 sq.ft plot at the current guideline value of Rs 175 per sq.ft, the total guideline value would be Rs 1,75,000. The stamp duty at 7% would be Rs 12,250, and the registration fee at 2% would be Rs 3,500, totaling Rs 15,750. Duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Royal City Phase-III?

The Royal City Phase-III area 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 Pusivakkam

The guideline value is a crucial factor in property transactions in Pusivakkam. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation of properties. Buyers and sellers should be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Royal City Phase-III?

The current guideline value of Royal City Phase-III is Rs 175 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2012 to Rs 100 per sq.ft in 2017, then increased to Rs 150 per sq.ft in 2023, and finally to Rs 175 per sq.ft in 2024.

What is the land classification for Royal City Phase-III?

Royal City Phase-III is classified as Residential Special Type - III.

Where can I find the Walajabad Sub Registrar Office?

The Walajabad Sub Registrar Office is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Royal City Phase-III?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at Rs 175 per sq.ft, the total guideline value would be Rs 1,75,000, leading to a stamp duty of Rs 12,250.