Guideline Value for Royal City (S.No.260/2)

Royal City (S.No.260/2) guideline value

The current guideline value for Royal City (S.No.260/2) is Rs 1,100 per sq.ft, effective from 1 July 2024. This property is located in 44.Ayanambakkam village under the Konnur SRO, classified as Residential Class III Type - I.

How the guideline value of Royal City (S.No.260/2) has changed

The guideline value for Royal City (S.No.260/2) has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,100 per sq.ft, an increase of 10% from the 2023 revision of Rs 1,000 per sq.ft. Prior to that, in 2017, the guideline value was Rs 670 per sq.ft, marking a significant increase of 49% to the 2023 figure. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Overall, from 2017 to 2024, the guideline value has increased by 64%. The consistent upward revisions reflect changes in the local real estate landscape, with the 2024 figure being the highest recorded for this property to date.

Guideline values in 44.Ayanambakkam

In 44.Ayanambakkam, there are 157 streets under the Konnur SRO carrying a 2024 guideline value ranging from Rs 801 to Rs 9,702 per sq.ft, with a median value of Rs 1,300 per sq.ft. The guideline value for Royal City (S.No.260/2) is below this median.

• Royal City Phase I (S.No.252, 253, 342): Rs 1,100 per sq.ft (2024)
• Sadaippa Vallal Street: Rs 1,100 per sq.ft (2024)
• Rani Anna Nagar: Rs 880 per sq.ft (2024)
• Saraswathy Nagar: Rs 880 per sq.ft (2024)
• Saraswathy nagar Extn.: Rs 880 per sq.ft (2024)
• Saratha Nagar: Rs 801 per sq.ft (2024)

Stamp duty and registration fee for property in Royal City (S.No.260/2)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. Please note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Royal City (S.No.260/2)?

The Royal City (S.No.260/2) falls under the Konnur Sub Registrar Office located at Sub Register Office, Villivakkam Panchat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

How the guideline value is used when you buy or sell in 44.Ayanambakkam

The guideline value plays a crucial role during the registration of property transactions in 44.Ayanambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency and fairness in property dealings.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory expenses in the registration process. This ensures that both buyers and sellers are aware of the financial implications related to the transaction.

Frequently asked questions

What is the current guideline value for Royal City (S.No.260/2)?

The current guideline value for Royal City (S.No.260/2) is Rs 1,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 670 per sq.ft to Rs 1,100 per sq.ft in 2024, marking an overall increase of 64%.

What is the stamp duty for property in Royal City (S.No.260/2)?

The stamp duty for a property in Royal City (S.No.260/2) is calculated at 7% of the guideline value or the sale price, whichever is higher.

Which office handles registrations for Royal City (S.No.260/2)?

The Konnur Sub Registrar Office handles registrations for Royal City (S.No.260/2), located at Sub Register Office, Villivakkam Panchat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What is the median guideline value in 44.Ayanambakkam?

The median guideline value in 44.Ayanambakkam is Rs 1,300 per sq.ft, while the guideline value for Royal City (S.No.260/2) is below this median.