Guideline Value for RPG Metro City

RPG Metro City guideline value

The current guideline value for RPG Metro City, located in Navaloor village under the Sriperumpudur SRO, is Rs 300 per sq.ft, effective from 1 July 2024. This classification falls under Residential Class I Type - I.

How the guideline value of RPG Metro City has changed

Over the years, the guideline value for RPG Metro City has seen various revisions. In 2012, the guideline value was set at Rs 300 per sq.ft. This remained unchanged until the 2017 revision, where it decreased to Rs 201 per sq.ft. However, the value rebounded in the 2023 revision, returning to Rs 300 per sq.ft, and has remained at that figure in the 2024 revision, showing a 0% change from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has not changed, remaining at Rs 300 per sq.ft.

From 2017 to 2023, there was a significant increase of 49%, while the change from 2012 to 2017 was a decrease of 33%. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Navaloor

In Navaloor, a total of 26 streets fall under the Sriperumpudur SRO, with the 2024 guideline values ranging from Rs 150 to Rs 1,100 per sq.ft. The guideline value for RPG Metro City matches the median value of Rs 300 per sq.ft for the area.

• Sipcot Industries estate: Rs 600 per sq.ft (2024)
• Sivam Nagar: Rs 450 per sq.ft (2024)
• Sivam Nagar Part -II: Rs 500 per sq.ft (2024)
• Sri Kumaran Nagar: Rs 450 per sq.ft (2024)
• Sriperumpudur Royal Lands Co-Op Maha Nagar: Rs 610 per sq.ft (2024)
• Thirupathi Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in RPG Metro City

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty, calculated at 7%, would be Rs 21,000, and the registration fee at 2% would be Rs 6,000. Together, these fees amount to Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers RPG Metro City?

The Sub Registrar Office that covers RPG Metro City is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Navaloor. It is used to determine the stamp duty and registration fees payable during the transaction. Buyers must ensure that the property is registered at the guideline value or the sale price, whichever is higher, to comply with local regulations.

When registering a property, the guideline value ensures that the transaction is documented accurately, reflecting the market conditions. This value is essential for maintaining transparency and fairness in property dealings within the region.

Frequently asked questions

What is the current guideline value for RPG Metro City?

The current guideline value for RPG Metro City is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 300 per sq.ft since 2012, with a decrease to Rs 201 per sq.ft in 2017, followed by a return to Rs 300 per sq.ft in 2023 and 2024.

What are the stamp duty and registration fees for properties in RPG Metro City?

For a property valued at Rs 3,00,000, the stamp duty would be Rs 21,000 and the registration fee would be Rs 6,000, totaling Rs 27,000.

Which Sub Registrar Office covers RPG Metro City?

The Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone, covers RPG Metro City.

What is the land classification for RPG Metro City?

The land classification for RPG Metro City is Residential Class I Type - I, indicating its suitability for residential development.