Guideline Value

Corporate

Guideline Value for ROYALA NAGAR 2ND MAIN ROAD

₹4400/sq.ft.

The guideline value for Royala Nagar 2nd Main Road 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 Main Road

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Royala Nagar 2nd Main Road guideline value

The current guideline value of Royala Nagar 2nd Main Road is Rs 4,400 per sq.ft, effective from 1 July 2024. This road 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 Main Road has changed

The guideline value for Royala Nagar 2nd Main Road has seen several revisions over the years. Starting with the 2002 revision, the value was Rs 419 per sq.ft. This increased to Rs 518 per sq.ft in 2003, marking a 24% rise. The value further increased to Rs 1,100 per sq.ft in 2007, a significant jump of 112%. In 2012, the value was Rs 4,000 per sq.ft, reflecting a 264% increase from the previous revision. However, it decreased by 33% to Rs 2,680 per sq.ft in 2017. The value then rose to Rs 4,000 per sq.ft in 2023, before reaching the current value of Rs 4,400 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 950%. There are no figures available for revisions in years not mentioned in the register 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 value for these streets is Rs 3,100 per sq.ft, placing the 2024 guideline value of Royala Nagar 2nd Main Road above this median.

Stamp duty and registration fee for property in Royala Nagar 2nd Main Road

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 at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total cost for these fees to Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Royala Nagar 2nd Main Road?

The Sub Registrar Office that covers Royala Nagar 2nd Main Road 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 plays a crucial role during the registration of property transactions in Ramapuram. It serves as the minimum value for which a property can be sold or registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process is transparent and adheres to the established regulations.

Frequently asked questions

What is the current guideline value for Royala Nagar 2nd Main Road?

The current guideline value for Royala Nagar 2nd Main Road 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, reflecting an overall increase of 950% over the years.

What is the stamp duty rate for property in Royala Nagar 2nd Main Road?

The stamp duty rate for property transactions in Royala Nagar 2nd Main Road is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Royala Nagar 2nd Main Road located?

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

How is the guideline value determined for properties in Ramapuram?

The guideline value for properties in Ramapuram is determined by the Registration Department and is based on various factors, including land classification and location. It is updated periodically to reflect changes in the real estate market.