Guideline Value for ROYAL TOWN

Royal Town guideline value

The current guideline value for Royal Town, located in Chettipunniyam village, is Rs 1,800 per sq.ft, effective from the 2024 revision. This property falls under the Chengleput Joint II SRO and is classified as Residential Special Type - I.

How the guideline value of Royal Town has changed

The guideline value for Royal Town has seen several revisions over the years. In 2012, the value was set at Rs 1,800 per sq.ft, which remained unchanged until the next revision in 2017, where it decreased to Rs 1,206 per sq.ft. Following this, the 2023 revision brought the value back to Rs 1,800 per sq.ft, which was maintained in the 2024 revision, indicating no change from the previous year.

From 2017 to 2023, there was a significant increase of 49%. However, the overall change from 2012 to 2024 shows no increase, as the value remains at Rs 1,800 per sq.ft. The register does not contain figures for the years 2002, 2003, and 2007 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 Town is above this median.

• Royal Enclave: Rs 700 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 Town

For a 1,000 sq.ft plot at the current guideline value of Rs 1,800 per sq.ft, the total guideline value amounts to Rs 18,00,000. The stamp duty at 7% would be Rs 1,26,000, and the registration fee at 2% would be Rs 36,000, bringing the total to Rs 1,62,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Royal Town?

The Royal Town area is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Chettipunniyam, as it determines the minimum value at which a property can be registered. This value is used to calculate stamp duty and registration fees, which are mandatory during the property transaction process.

When a buyer decides to purchase a property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This process helps maintain transparency and legality in property transactions within the region.

Frequently asked questions

What is the current guideline value of Royal Town?

The current guideline value of Royal Town in Chettipunniyam is Rs 1,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,800 per sq.ft from 2012 to 2024, with a decrease to Rs 1,206 per sq.ft in 2017, and an increase back to Rs 1,800 per sq.ft in 2023.

What is the land classification for Royal Town?

Royal Town is classified as Residential Special Type - I, which indicates its intended use for residential purposes.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value, while the registration fee is charged at 2%. For a property valued at Rs 18,00,000, the total fees would amount to Rs 1,62,000.

Which Sub Registrar Office handles registrations for Royal Town?

The Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, handles registrations for Royal Town.