Guideline Value for ROYAPETTAI 1 & 2 CROSS STREET

Royapettai 1 & 2 Cross Street guideline value

The current guideline value for Royapettai 1 & 2 Cross Street is Rs 2,200 per sq.ft. This street is located in Nemilicherry village, under the Pallavaram SRO, and is classified as Residential Class I Type - III.

How the guideline value of Royapettai 1 & 2 Cross Street has changed

The guideline value for Royapettai 1 & 2 Cross Street has undergone several revisions over the years. In 2012, the guideline value was set at Rs 2,200 per sq.ft. This remained unchanged until the next revision in 2017, where it decreased to Rs 1,474 per sq.ft. Following this, the value increased to Rs 2,000 per sq.ft in 2023, and the latest revision in 2024 has set it at Rs 2,200 per sq.ft again. There are no figures available for the years 2002, 2003, and 2007 for this street.

Between the revisions, the changes are notable. From 2017 to 2023, there was a significant increase of 36%. However, from 2012 to 2017, the value decreased by 33%. Overall, from 2012 to 2024, the guideline value has remained the same, showing a 0% change.

Guideline values in Nemilicherry

In Nemilicherry, there are 172 streets under the Pallavaram SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft, with a median value of Rs 2,160 per sq.ft. The guideline value for Royapettai 1 & 2 Cross Street is above this median.

• Royapettai Odai 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Rk Nagar: Rs 2,160 per sq.ft (2024)
• Rayapettai Lakepan Road: Rs 2,200 per sq.ft (2024)
• Ravi Street: Rs 2,200 per sq.ft (2024)
• Ranganathan Street: Rs 2,160 per sq.ft (2024)
• Sambandam Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Royapettai 1 & 2 Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total fees Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Royapettai 1 & 2 Cross Street?

The Sub Registrar Office that covers Royapettai 1 & 2 Cross Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nemilicherry. It is used to determine the stamp duty and registration fees applicable to the transaction. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers to ensure compliance with local regulations. It helps in determining the financial obligations associated with property transactions in the area.

Frequently asked questions

What is the current guideline value of Royapettai 1 & 2 Cross Street?

The current guideline value of Royapettai 1 & 2 Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and back to Rs 2,200 per sq.ft in 2024.

What is the land classification for this street?

Royapettai 1 & 2 Cross Street is classified as Residential Class I Type - III.

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

The Sub Registrar Office for Royapettai 1 & 2 Cross Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.