Guideline Value for Roy Nagar

Roy Nagar guideline value

The current guideline value of Roy Nagar, located in Madhavaram village under the Madhavaram SRO, is Rs 2,200 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 Roy Nagar has changed

The guideline value for Roy Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. However, this was followed by a significant increase to Rs 2,000 per sq.ft in the 2023 revision. The most recent 2024 revision has further raised the guideline value to Rs 2,200 per sq.ft. There are no figures available for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the value decreased by 33%, but it increased by 49% from 2017 to 2023. Overall, from 2012 to 2024, the guideline value has increased by 10%. The increase from 2023 to 2024 is 10% as well.

Guideline values in Madhavaram

Madhavaram village has a total of 1,946 streets under the Madhavaram SRO, with 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, placing Roy Nagar's current figure above this median.

• R.R.Nagar: Rs 2,500 per sq.ft (2024)
• Roja Nagar (Ward-29): Rs 2,200 per sq.ft (2024)
• Roja Nagar (Ward-14): Rs 2,200 per sq.ft (2024)
• Roja Nagar Extn (Ward-14): Rs 2,200 per sq.ft (2024)
• Roja Nagar 2nd st (Ward No.14): Rs 2,200 per sq.ft (2024)
• Roja Nagar 2nd Main Road (Ward 14): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Roy Nagar

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

Which Sub Registrar Office covers Roy Nagar?

The Sub Registrar Office that covers Roy Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Madhavaram. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is considered alongside the sale price. The higher of the two values is used to calculate the stamp duty and registration fees, which are mandatory for legal ownership transfer.

Frequently asked questions

What is the current guideline value of Roy Nagar?

The current guideline value of Roy Nagar 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 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification of Roy Nagar?

Roy Nagar falls under the Residential Class I Type - I land classification.

What are the stamp duty and registration fees for property in Roy Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 22,00,000, the total fees would amount to Rs 1,98,000.

Which office handles property registrations in Roy Nagar?

The Madhavaram Sub Registrar Office handles property registrations for Roy Nagar, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.