Guideline Value for ROYAL ENCLAVE

Royal Enclave guideline value

The current guideline value of Royal Enclave in Chettipunniyam village is Rs 700 per sq.ft, effective from 1 July 2024. This property falls under the Chengleput Joint II SRO and is classified as Residential Class I Type - II.

How the guideline value of Royal Enclave has changed

The guideline value for Royal Enclave has seen several revisions over the years. In 2007, the value was Rs 300 per sq.ft, which increased to Rs 700 per sq.ft in 2012, marking a significant rise of 133%. However, from 2012 to 2017, the value decreased to Rs 469 per sq.ft, a drop of 33%. This was followed by a substantial increase to Rs 700 per sq.ft in 2023, maintaining the same value in the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%, resulting in the current value of Rs 700 per sq.ft from the 2024 revision. It is noteworthy that the revisions for the years 2002 and 2003 do not have any figures recorded for this street.

Guideline values in Chettipunniyam

In Chettipunniyam, there are 47 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 700 to Rs 4,750 per sq.ft, with a median value of Rs 900 per sq.ft. The guideline value for Royal Enclave is below this median.

• Royal Town: Rs 1,800 per sq.ft (2024)
• Rehapoth Nagar: Rs 900 per sq.ft (2024)
• Rajendra Nagar: Rs 900 per sq.ft (2024)
• Sehaj Nagar: Rs 700 per sq.ft (2024)
• Selvaganapthi Nagar: Rs 700 per sq.ft (2024)
• Senthi Nagar: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Royal Enclave

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty, charged at 7%, would be Rs 49,000, while the registration fee at 2% would be Rs 14,000, bringing the total to Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Royal Enclave?

The Royal Enclave is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

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

When buying or selling property in Chettipunniyam, the guideline value plays a crucial role in determining the transaction costs. It is used to calculate the stamp duty and registration fees, which are mandatory for property registration.

The guideline value ensures that the property is registered at a value that reflects its market position, thereby helping in the assessment of taxes and fees associated with property transactions in the area.

Frequently asked questions

What is the current guideline value of Royal Enclave?

The current guideline value of Royal Enclave is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, from Rs 300 per sq.ft in 2007 to Rs 700 per sq.ft in 2012, then decreasing to Rs 469 per sq.ft in 2017, and finally stabilizing at Rs 700 per sq.ft in 2023 and 2024.

What is the registration office for Royal Enclave?

The registration office for Royal Enclave is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is stamp duty calculated for properties in Royal Enclave?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a 1,000 sq.ft plot valued at Rs 700 per sq.ft, the stamp duty would be Rs 49,000.

What is the classification of land in Royal Enclave?

The land classification for Royal Enclave is Residential Class I Type - II, indicating its designation for residential development.