Guideline Value for ROYAL ENCLAVE

Royal Enclave guideline value

The current guideline value of Royal Enclave in Erumaiyur village is Rs 2,200 per sq.ft, effective from 1 July 2024. This property falls under the Padappai Sub Registrar Office (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 undergone several revisions over the years. The register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 2,000 per sq.ft, which was an increase from the previous figures. The most recent revision in 2024 raised the guideline value to Rs 2,200 per sq.ft, marking a 10% increase from the 2023 figure.

Guideline values in Erumaiyur

In Erumaiyur, there are 21 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 4,300 per sq.ft. The median guideline value for these streets is Rs 940 per sq.ft, placing Royal Enclave's 2024 figure above this median.

• Sastha Garden: Rs 440 per sq.ft (2024)
• Sobha Blossom: Rs 4,300 per sq.ft (2024)
• Sri Balaji Nagar: Rs 440 per sq.ft (2024)
• Sri Varadhapuri Nagar: Rs 940 per sq.ft (2024)
• Om Shakthi Nagar (S.No.145, 142/2): Rs 1,650 per sq.ft (2024)
• Tambaram - Pazhanthandalam Road: Rs 550 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Royal Enclave?

The Royal Enclave is covered by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Erumaiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the sale or purchase of property.

When a buyer or seller engages in a transaction, the registration office uses the guideline value to calculate the necessary fees. This ensures that the property is valued correctly according to the current regulations and helps in maintaining transparency in property transactions.

Frequently asked questions

What is the current guideline value of Royal Enclave?

The current guideline value of Royal Enclave is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase. The register has no figure for the years 2002, 2003, 2007, 2012, and 2017.

What is the classification of land in Royal Enclave?

Royal Enclave is classified as Residential Class I Type - II under the Padappai SRO.

What are the stamp duty and registration fees for properties in Royal Enclave?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000. Duty is charged on the higher of the guideline value or the sale price.

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

The Padappai Sub Registrar Office covers Royal Enclave and is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.