Guideline Value for ROYAL MODERN CITY PHASE II

Royal Modern City Phase II guideline value

The current guideline value of Royal Modern City Phase II is Rs 100 per sq.ft. This property is located in Devathanam village, under the Ponneri SRO, and is classified as Residential Class II Type - I.

How the guideline value of Royal Modern City Phase II has changed

The guideline value for Royal Modern City Phase II has undergone several revisions. The oldest recorded figure is from the 2017 revision, which was Rs 67 per sq.ft. In the subsequent 2023 revision, the guideline value increased to Rs 100 per sq.ft, marking a 49% increase from the previous figure. The 2024 revision has maintained this value at Rs 100 per sq.ft, showing no change from the 2023 revision.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 49%.

Guideline values in Devathanam

In Devathanam, there are 23 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 111 per sq.ft. The median value for these streets is Rs 100 per sq.ft, which is equal to the guideline value of Royal Modern City Phase II.

• Sai Krishna Nagar: Rs 100 per sq.ft (2024)
• Sai Saran Nagar: Rs 100 per sq.ft (2024)
• Sakthi Sai Garden: Rs 100 per sq.ft (2024)
• Semmozhi Nagar Part II: Rs 100 per sq.ft (2024)
• Semmozhi Nagar Part III: Rs 100 per sq.ft (2024)
• Sri Ragavendhra Nagar: Rs 111 per sq.ft (2024)

Stamp duty and registration fee for property in Royal Modern City Phase II

For a 1,000 sq.ft plot at the current rate of Rs 100 per sq.ft, the guideline value amounts to Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, totaling Rs 9,000. Please note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Royal Modern City Phase II?

The Royal Modern City Phase II falls under the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Devathanam. It determines the amount of stamp duty and registration fees payable, which are calculated based on this value or the sale price, whichever is higher.

When a buyer registers a property, the guideline value serves as a reference point for the transaction. It ensures that the registration fees collected are in accordance with the established rates, thereby maintaining transparency in property transactions.

Frequently asked questions

What is the current guideline value for Royal Modern City Phase II?

The current guideline value for Royal Modern City Phase II is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 67 per sq.ft in 2017 to Rs 100 per sq.ft in both 2023 and 2024, representing a 49% increase overall from 2017 to 2024.

What is the classification of land in Royal Modern City Phase II?

Royal Modern City Phase II is classified as Residential Class II Type - I, indicating its designation for residential use.

What are the stamp duty and registration fees for a property in this area?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 9,000, calculated based on the guideline value of Rs 1,00,000.

Where is the Ponneri Sub Registrar Office located?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204, and it handles registrations for Royal Modern City Phase II.