Guideline Value for ROYAL CITY

Royal City guideline value

The current guideline value of Royal City in Mampallam village, under the Arani_Tiruvallur SRO, is Rs 120 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class IV Type - I land classification.

How the guideline value of Royal City has changed

The guideline value for Royal City has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 120 per sq.ft, which is the same as the 2023 revision. Prior to that, the 2017 revision recorded a guideline value of Rs 80 per sq.ft. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, the guideline value increased by 50%, and from 2017 to 2024, it has also increased by 50%. The change from 2023 to 2024 shows no percentage increase, remaining constant at Rs 120 per sq.ft.

Guideline values in Mampallam

In Mampallam, three streets under the Arani_Tiruvallur SRO carry a 2024 guideline value of Rs 120 per sq.ft, with the median also at Rs 120 per sq.ft. Royal City's 2024 figure aligns with this median.

• Kumaran Sri City: Rs 120 per sq.ft (2024)
• Krishna City: Rs 120 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 120 per sq.ft, the total guideline value amounts to Rs 1,20,000. The stamp duty, charged at 7%, would be Rs 8,400, while the registration fee at 2% would be Rs 2,400, bringing the total charges to Rs 10,800. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Royal City?

The Royal City area is covered by the Arani_Tiruvallur Sub Registrar Office, located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial element in the registration process when buying or selling property in Mampallam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the guideline value is used to determine the applicable charges, which are based on either the guideline value or the sale price, whichever is higher. This ensures transparency and compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Royal City?

The current guideline value of Royal City in Mampallam village is Rs 120 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 80 per sq.ft in 2017 to Rs 120 per sq.ft in both 2023 and 2024, marking a 50% increase overall from 2017 to 2024. There were no figures available for the years 2002, 2003, 2007, and 2012.

What are the other streets in Mampallam with guideline values?

Other streets in Mampallam under the Arani_Tiruvallur SRO also have a guideline value of Rs 120 per sq.ft for 2024. These include Kumaran Sri City and Krishna City.

What are the stamp duty and registration fees for property in Royal City?

For a 1,000 sq.ft plot at the guideline value of Rs 120 per sq.ft, the stamp duty would be Rs 8,400 and the registration fee would be Rs 2,400, totaling Rs 10,800. These fees are based on the higher of the guideline value or the sale price.

Which office handles registrations for Royal City?

The Arani_Tiruvallur Sub Registrar Office handles registrations for Royal City. It is located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101, Chennai registration zone.