Guideline Value for ROYAL CITY

Royal City guideline value

The current guideline value of Royal City in Malayambakkam village is Rs 1,800 per sq.ft, effective from 1 July 2024. This property falls under the Kunrathur 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 significant changes over the years. In 2007, the value was Rs 400 per sq.ft, which increased to Rs 1,100 per sq.ft in the 2017 revision, marking a 175% rise. The most recent revision in 2024 set the guideline value at Rs 1,800 per sq.ft, reflecting a 64% increase from 2017.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 350%. The register has no figures for the years 2023, 2012, 2003, and 2002 for this street.

Guideline values in Malayambakkam

In Malayambakkam, there are 82 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 450 to Rs 2,750 per sq.ft. The median value for these streets is Rs 935 per sq.ft, placing Royal City above this median.

• Sagunthala Avenue: Rs 2,750 per sq.ft (2024)
• Sai Sampath Nagar: Rs 2,310 per sq.ft (2024)
• Sai Sri Boobathi Nagar: Rs 2,200 per sq.ft (2024)
• Sakthi Nagar: Rs 880 per sq.ft (2024)
• Ram Nagar: Rs 1,210 per sq.ft (2024)
• Ramachandra Nagar: Rs 1,210 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 1,800 per sq.ft, the total guideline value amounts to Rs 18,00,000. The stamp duty at 7% would be Rs 1,26,000, and the registration fee at 2% would be Rs 36,000, bringing the total fees to Rs 1,62,000. 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 Kunrathur Sub Registrar Office located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is an important factor during the registration of property in Malayambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable at the time of the transaction.

When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are collected based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Royal City?

The current guideline value of Royal City is Rs 1,800 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 400 per sq.ft to Rs 1,800 per sq.ft in 2024, marking an overall increase of 350%.

What is the land classification of Royal City?

Royal City is classified as Mixed Type - II land under the guideline value register.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the 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 example, a property valued at Rs 18,00,000 would incur a stamp duty of Rs 1,26,000.