Guideline Value for ROYAPETTAI ODAI 3RD CROSS STREET

Royapettai Odai 3rd Cross Street guideline value

The current guideline value of Royapettai Odai 3rd Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Nemilicherry village under the Pallavaram SRO, and it is classified as Residential Class I Type - III.

How the guideline value of Royapettai Odai 3rd Cross Street has changed

In the 2012 revision, the guideline value was set at Rs 2,200 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 1,474 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 2,000 per sq.ft in the 2023 revision, which was a 36% rise from the 2017 figure.

As of the 2024 revision, the guideline value stands at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 2,200 per sq.ft, despite fluctuations in the intervening years.

Guideline values in Nemilicherry

In Nemilicherry, there are 172 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,160 per sq.ft, placing Royapettai Odai 3rd Cross Street slightly above this median.

• Royapettai 1 & 2 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 Odai 3rd 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, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Royapettai Odai 3rd Cross Street?

The Sub Registrar Office that covers Royapettai Odai 3rd 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 details.

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

The guideline value is a crucial factor during the registration of property transactions in Nemilicherry. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used for calculating the applicable duties. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value of Royapettai Odai 3rd Cross Street?

The current guideline value of Royapettai Odai 3rd 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 seen fluctuations, with a decrease to Rs 1,474 per sq.ft in 2017, then rising 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 Odai 3rd Cross Street is classified as Residential Class I Type - III.

What are the stamp duty rates applicable?

The stamp duty rate is 7% of the guideline value or the sale price, whichever is higher. There is also a registration fee of 2% applicable.

Where is the Sub Registrar Office located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.