Guideline Value for Regency Park

Regency Park guideline value

The current guideline value of Regency Park, located in Thandalam village under the Sriperumpudur SRO, is Rs 505 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Regency Park has changed

The guideline value for Regency Park has seen several revisions over the years. In 2007, the value was Rs 126 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2012. However, it then decreased to Rs 335 per sq.ft in 2017. The value rose again to Rs 500 per sq.ft in 2023, and currently stands at Rs 505 per sq.ft as of the 2024 revision. The changes between these revisions include a 297% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 1% increase from 2023 to 2024.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 301%.

Guideline values in Thandalam

In Thandalam, there are 36 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 1,800 per sq.ft, with a median value of Rs 400 per sq.ft. The guideline value for Regency Park is above this median.

• Rajiv Gandhi Street: Rs 400 per sq.ft (2024)
• Rajiv Gandhi Main Road: Rs 505 per sq.ft (2024)
• Sakthi Enclave: Rs 800 per sq.ft (2024)
• Rajeswari Nagar: Rs 400 per sq.ft (2024)
• Rajalakshmi Nagar: Rs 400 per sq.ft (2024)
• Puthu Street: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Regency Park

For a 1,000 sq.ft plot at the current guideline value of Rs 505 per sq.ft, the total guideline value would be Rs 5,05,000. The stamp duty at 7% would amount to Rs 35,350, and the registration fee at 2% would be Rs 10,100, totaling Rs 45,450. 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 our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Regency Park?

The Regency Park area is covered by 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 Thandalam

The guideline value plays a crucial role in the registration process of property transactions in Thandalam. It is used to determine the applicable stamp duty and registration fees when a property is bought or sold.

When registering a property, the guideline value is compared to the sale price, and the higher value is used to calculate the necessary fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Regency Park?

The current guideline value of Regency Park is Rs 505 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 126 per sq.ft in 2007 to Rs 505 per sq.ft in 2024, with notable increases and decreases in between.

What is the median guideline value in Thandalam?

The median guideline value in Thandalam is Rs 400 per sq.ft, with Regency Park's value being above this median.

What are the stamp duty and registration fees for property in Regency Park?

The stamp duty for a property valued at Rs 5,05,000 is Rs 35,350, while the registration fee is Rs 10,100, totaling Rs 45,450.

Which office handles property registrations for Regency Park?

The Sriperumpudur Sub Registrar Office handles property registrations for Regency Park, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.