Guideline Value for ROYAL GARDEN

Royal Garden guideline value

The current guideline value of Royal Garden in Perumanthangal village is Rs 300 per sq.ft, effective from 1 July 2024. This property falls under the Chengleput Joint II SRO and is classified as Residential Special Type - I.

How the guideline value of Royal Garden has changed

The guideline value for Royal Garden has seen several revisions over the years. The 2007 revision recorded a value of Rs 125 per sq.ft, which increased significantly to Rs 300 per sq.ft in 2012. However, it then decreased by 33% to Rs 201 per sq.ft in 2017. The value remained stable at Rs 300 per sq.ft in the 2023 revision and continues to be Rs 300 per sq.ft in the 2024 revision, indicating no change between these two years.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 140%. Notably, there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Perumanthangal

In Perumanthangal, four streets under the Chengleput Joint II SRO have a 2024 guideline value ranging from Rs 300 to Rs 1,500 per sq.ft, with a median of Rs 900 per sq.ft. The guideline value for Royal Garden is below this median.

• Srinivasa Palms @ Perumalthangal: Rs 1,500 per sq.ft (2024)
• Sri Padmavathy Nagar: Rs 300 per sq.ft (2024)
• Annai Padmavathi Nagar: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Royal Garden

For a 1,000 sq.ft plot at the current rate of Rs 300 per sq.ft, the guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, totaling Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Royal Garden?

The Royal Garden property 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 information.

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

The guideline value is a crucial factor during the registration of property transactions in Perumanthangal. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When registering a property, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Royal Garden?

The current guideline value of Royal Garden is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 125 per sq.ft in 2007 to Rs 300 per sq.ft in 2012, then decreased to Rs 201 per sq.ft in 2017, and has remained at Rs 300 per sq.ft in both 2023 and 2024.

What is the land classification of Royal Garden?

Royal Garden is classified as Residential Special Type - I under the Chengleput Joint II SRO.

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

For a property valued at Rs 3,00,000, the stamp duty would be Rs 21,000 and the registration fee would be Rs 6,000, totaling Rs 27,000.

Which office handles the registration of properties in Royal Garden?

The Chengleput Joint II Sub Registrar Office handles the registration of properties in Royal Garden, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.