Guideline Value for ROYAL CITY

Royal City guideline value

The current guideline value of Royal City in Seevaadi village is Rs 200 per sq.ft, effective from 1 July 2024. This area falls under the Madurandakam SRO and is classified as Mixed Type - II land.

How the guideline value of Royal City has changed

The guideline value for Royal City has seen several revisions over the years. In 2012, the value was Rs 200 per sq.ft. This remained unchanged until the 2017 revision, where it decreased to Rs 134 per sq.ft. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 200 per sq.ft. The current 2024 revision also maintains this value at Rs 200 per sq.ft, showing no change from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has remained constant at Rs 200 per sq.ft.

Guideline values in Seevaadi

In Seevaadi, there are 9 streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 200 per sq.ft. The median value for these streets is Rs 151 per sq.ft, placing Royal City's 2024 figure above that median.

• Sai Nagar: Rs 100 per sq.ft (2024)
• Pragathi Garden: Rs 150 per sq.ft (2024)
• Sundaram Garden: Rs 200 per sq.ft (2024)
• Mkm City: Rs 151 per sq.ft (2024)
• Varsha Garden: Rs 121 per sq.ft (2024)
• Family Park: Rs 151 per sq.ft (2024)

Stamp duty and registration fee for property in Royal City

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total fees to Rs 18,000. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Royal City?

The Sub Registrar Office that covers Royal City is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Seevaadi. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value is taken into account to ensure that the transaction is recorded accurately. This helps in maintaining transparency in property transactions and ensures that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Royal City?

The current guideline value of Royal City is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2012 to Rs 134 per sq.ft in 2017, then back to Rs 200 per sq.ft in 2023 and 2024.

What is the land classification of Royal City?

Royal City is classified as Mixed Type - II land under the Madurandakam SRO.

How is stamp duty calculated for properties in Royal City?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000.

Where can I find the Sub Registrar Office for Royal City?

The Madurandakam Sub Registrar Office covers Royal City, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.