Guideline Value for ROYAL CITY

Royal City guideline value

The current guideline value of Royal City, located in Thenneri village under the Walajabad SRO, is Rs 250 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - I land classification.

How the guideline value of Royal City has changed

The guideline value of Royal City has undergone several revisions over the years. The earliest recorded figure is from the 2012 revision, which set the value at Rs 250 per sq.ft. In the 2017 revision, the value decreased to Rs 167 per sq.ft, marking a significant drop of 33%. However, by the 2023 revision, the value increased to Rs 250 per sq.ft again. The most recent 2024 revision maintains this figure at Rs 250 per sq.ft, indicating no change from the previous year.

In summary, the changes between the revisions show that from 2017 to 2023, there was a 50% increase, while the overall change from 2012 to 2024 is 0%. Notably, the revisions for the years 2002, 2003, and 2007 have no figures recorded for this street.

Guideline values in Thenneri

In Thenneri village, there are four streets under the Walajabad SRO that carry a 2024 guideline value, ranging from Rs 250 to Rs 374 per sq.ft. The median value for these streets is Rs 250 per sq.ft, which is the same as the guideline value for Royal City.

• Selvi Nagar: Rs 250 per sq.ft (2024)
• New Electronic City: Rs 374 per sq.ft (2024)
• Vivekanandha Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Royal City

For a 1,000 sq.ft plot at the current rate of Rs 250 per sq.ft, the guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, totaling Rs 22,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also 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 Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. To find your SRO, you can visit this link: find your SRO.

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

The guideline value serves as a reference point for determining the stamp duty and registration fees when buying or selling property in Thenneri. It is crucial for buyers and sellers to be aware of the current guideline value as it directly impacts the costs associated with property transactions.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs. Understanding the guideline value helps ensure that buyers and sellers are prepared for these expenses during the transaction process.

Frequently asked questions

What is the current guideline value of Royal City?

The current guideline value of Royal City is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent revision maintaining the value at Rs 250 per sq.ft, the same as in 2023. The value was Rs 167 per sq.ft in 2017 and Rs 250 per sq.ft in 2012.

What are the other streets in Thenneri with guideline values?

Other streets in Thenneri with guideline values include Selvi Nagar at Rs 250 per sq.ft, New Electronic City at Rs 374 per sq.ft, and Vivekanandha Nagar at Rs 250 per sq.ft, all effective for 2024.

How is stamp duty calculated for property in Royal City?

Stamp duty for property in Royal City is calculated at 7% of the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft plot, this amounts to Rs 17,500 based on the current guideline value.

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

The Sub Registrar Office for Royal City is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find more information by visiting the provided link.