Guideline Value for Royal City

Royal City guideline value

The current guideline value of Royal City in Kathirvedu village is Rs 1,400 per sq.ft, effective from 1 July 2024. This property falls under the Ambattur Sub Registrar Office (SRO) and is classified as Residential Class III Type - I.

How the guideline value of Royal City has changed

The guideline value for Royal City has undergone several revisions over the years. In 2003, the value was set at Rs 70 per sq.ft, which increased significantly to Rs 400 per sq.ft in 2007. The value then rose to Rs 1,300 per sq.ft in 2012, before dropping to Rs 871 per sq.ft in 2017. The most recent revisions saw an increase to Rs 1,300 per sq.ft in 2023 and further to Rs 1,400 per sq.ft in 2024, marking an 8% increase from the previous year.

From 2017 to 2023, the value increased by 49%. The jump from 2007 to 2012 was substantial at 225%, while the increase from 2003 to 2007 was an impressive 471%. Overall, from 2003 to 2024, the guideline value has increased by 1900%. The register has no figure for this street for the year 2002.

Guideline values in Kathirvedu

Kathirvedu village has a total of 78 streets under the Ambattur SRO, with the 2024 guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 1,500 per sq.ft, placing Royal City's 2024 figure below this median.

• Sabari Nagar: Rs 1,400 per sq.ft (2024)
• Redhills Road: Rs 2,800 per sq.ft (2024)
• Ramji Nagar: Rs 1,500 per sq.ft (2024)
• Ramachandran Street: Rs 1,100 per sq.ft (2024)
• Sathyamurthy Co.Op.Building Society Nagar: Rs 2,200 per sq.ft (2024)
• Raasi Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Royal City

For a 1,000 sq.ft plot at the current guideline value of Rs 1,400 per sq.ft, the total guideline value would be Rs 14,00,000. The stamp duty at 7% would amount to Rs 98,000, and the registration fee at 2% would be Rs 28,000, bringing the total to Rs 1,26,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Royal City?

The Royal City property is covered by the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kathirvedu. It determines the minimum value at which the property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the buyer must pay stamp duty and registration fees based on the higher value between the guideline value and the sale price. This ensures that the government receives the appropriate revenue from property transactions in the region.

Frequently asked questions

What is the current guideline value of Royal City?

The current guideline value of Royal City in Kathirvedu village is Rs 1,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 70 per sq.ft in 2003 to Rs 1,400 per sq.ft in 2024, reflecting an overall increase of 1900% over this period.

What is the land classification for Royal City?

Royal City is classified as Residential Class III Type - I, indicating its suitability for residential purposes.

Where is the Ambattur Sub Registrar Office located?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai.

How is stamp duty calculated for properties in Royal City?

Stamp duty is calculated based on the higher value between the guideline value and the sale price. For example, a property with a guideline value of Rs 14,00,000 would incur a stamp duty of Rs 98,000 at 7%.