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Guideline Value

Corporate

Guideline Value for ROYALA NAGAR 2ND CROSS STREET

₹4400/sq.ft.

The guideline value for Royala Nagar 2nd Cross Street in Ramapuram village (Chennai South Joint Ii SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. It was Rs 4000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Special Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Ramapuram

Village

Chennai South Joint II

SRO

Residential Special Type - I
History
Period Guideline Value
From 1-7-2024 ₹4400 /sq.ft.
From 1-4-2023 ₹4000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2680 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹4000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1100 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹518 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹419 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510538
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Royala Nagar 2nd Cross Street

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Royala Nagar 2nd Cross Street guideline value

The current guideline value of Royala Nagar 2nd Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Ramapuram village, under the Chennai South Joint II SRO, and is classified as Residential Special Type - I.

How the guideline value of Royala Nagar 2nd Cross Street has changed

The guideline value for Royala Nagar 2nd Cross Street has seen several revisions over the years. The earliest recorded figure is from 2002, which was Rs 419 per sq.ft. This value increased to Rs 518 per sq.ft in 2003, marking a 24% rise. In 2007, the guideline value jumped significantly to Rs 1,100 per sq.ft, reflecting a 112% increase. The value then rose to Rs 4,000 per sq.ft in 2012, a substantial increase of 264%. However, it decreased to Rs 2,680 per sq.ft in 2017, showing a decline of 33% from the previous revision. The most recent figures show an increase to Rs 4,000 per sq.ft in 2023, followed by a further increase to Rs 4,400 per sq.ft in 2024, which is a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 950%. There are no figures available for the years not mentioned in the revisions for this street.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median guideline value in this area is Rs 3,100 per sq.ft, placing the 2024 figure for Royala Nagar 2nd Cross Street above this median.

Stamp duty and registration fee for property in Royala Nagar 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty is charged at 7%, which totals Rs 3,08,000, and the registration fee is at 2%, amounting to Rs 88,000. Therefore, the total cost for stamp duty and registration fee together is Rs 3,96,000. 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 Royala Nagar 2nd Cross Street?

The Sub Registrar Office that covers Royala Nagar 2nd Cross Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Ramapuram. It serves as a benchmark for determining the minimum value of the property, which is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to determine the stamp duty. This process helps maintain transparency and accountability in property transactions within the region.

Frequently asked questions

What is the current guideline value of Royala Nagar 2nd Cross Street?

The current guideline value of Royala Nagar 2nd Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 419 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, showing an overall increase of 950% over the years.

What is the classification of land on Royala Nagar 2nd Cross Street?

The land classification for Royala Nagar 2nd Cross Street is Residential Special Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Royala Nagar 2nd Cross Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is the stamp duty calculated for properties in Ramapuram?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for the registration fee.