Guideline Value for ROYAL CITY PHASE-I

Royal City Phase-I guideline value

The current guideline value of Royal City Phase-I is Rs 175 per sq.ft, effective from 1 July 2024. This property is located in Pusivakkam village, under the Walajabad Sub Registrar Office (SRO). The land classification for this area is Residential Special Type - III.

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

The guideline value for Royal City Phase-I has undergone several revisions over the years. The 2012 revision set the value at Rs 150 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 100 per sq.ft. In 2023, the guideline value increased to Rs 150 per sq.ft, and in the latest revision for 2024, it rose to Rs 175 per sq.ft, marking a 17% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 17%. Notably, the revisions for the years 2002, 2003, and 2007 do not have figures listed in the register 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, with a median value of Rs 150 per sq.ft. The guideline value for Royal City Phase-I is above this median.

• Royal City Phase - II: Rs 175 per sq.ft (2024)
• Royal City Phase-III: 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-I

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, bringing the total cost for these fees to Rs 15,750. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers Royal City Phase-I?

The Royal City Phase-I is covered by the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is an essential factor during the registration process when buying or selling property in Pusivakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately.

When a property is sold, the guideline value helps determine the appropriate taxes owed based on the property's value, ensuring compliance with local regulations. Buyers and sellers should always refer to the latest guideline values to understand their financial obligations during the transaction.

Frequently asked questions

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

The current guideline value of Royal City Phase-I 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 175 per sq.ft in 2024, with various revisions in between, including a drop to Rs 100 per sq.ft in 2017 and an increase to Rs 150 per sq.ft in 2023.

What is the stamp duty for property in Royal City Phase-I?

The stamp duty for property in Royal City Phase-I is 7% of the guideline value. For a 1,000 sq.ft plot, this would amount to Rs 12,250.

Where is the Walajabad Sub Registrar Office located?

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

How is the guideline value used in property transactions?

The guideline value is used as a basis for calculating stamp duty and registration fees during property transactions. It ensures that the transaction is recorded accurately and that the appropriate taxes are paid based on the property's value.