Guideline Value for ROYAL RESIDENCY

Royal Residency guideline value

The current guideline value of Royal Residency is Rs 770 per sq.ft, effective from 1 July 2024. This property is located in Manimangalam A village and falls under the Padappai SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Royal Residency has changed

The guideline value for Royal Residency has seen several revisions over the years. The 2017 revision set the value at Rs 469 per sq.ft, which increased to Rs 700 per sq.ft in the 2023 revision. The most recent revision in 2024 raised the value further to Rs 770 per sq.ft. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023, and by an additional 10% from 2023 to 2024. Overall, from 2017 to 2024, the guideline value has risen by 64%.

Guideline values in Manimangalam A

In Manimangalam A, there are 112 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 2,500 per sq.ft, with a median value of Rs 880 per sq.ft. The guideline value for Royal Residency is below this median.

• Royal Court Phase I to III: Rs 770 per sq.ft (2024)
• Royal Court: Rs 770 per sq.ft (2024)
• Royal Avenue Part I to III: Rs 770 per sq.ft (2024)
• Royal Avenue: Rs 770 per sq.ft (2024)
• Sai Nagar: Rs 880 per sq.ft (2024)
• Saravanan Nagar: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Royal Residency

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total cost for these fees to Rs 69,300. 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 Residency?

The Royal Residency falls under 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 Manimangalam A

The guideline value is a crucial factor in the registration process for property transactions in Manimangalam A. It determines the minimum value at which a property can be registered and is used to calculate the applicable stamp duty and registration fees.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value as per government standards. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Royal Residency?

The current guideline value of Royal Residency is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 469 per sq.ft in 2017 to Rs 700 per sq.ft in 2023, and then to Rs 770 per sq.ft in 2024, reflecting a total increase of 64% from 2017 to 2024.

What is the land classification of Royal Residency?

Royal Residency is classified as Residential Class II Type - I, indicating its use for residential purposes.

Where is the Padappai Sub Registrar Office located?

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

How is stamp duty calculated for properties in Royal Residency?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 53,900.