Guideline Value for Royal Court Phase I to III

Royal Court Phase I to III guideline value

The current guideline value of Royal Court Phase I to III is Rs 770 per sq.ft, effective from 1 July 2024. This property is located in Manimangalam A village under the Padappai SRO, classified as Residential Class II Type - I.

How the guideline value of Royal Court Phase I to III has changed

The guideline value for Royal Court Phase I to III has seen several revisions over the years. The oldest recorded figure is from the 2017 revision at Rs 469 per sq.ft. This increased to Rs 700 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 set the value at Rs 770 per sq.ft, reflecting a 10% increase from the previous year.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

Guideline values in Manimangalam A

In Manimangalam A, there are 112 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 2,500 per sq.ft. The median value for these streets is Rs 880 per sq.ft, placing the guideline value of Royal Court Phase I to III below this median.

• Royal Court: Rs 770 per sq.ft (2024)
• Royal Avenue Part I to III: Rs 770 per sq.ft (2024)
• Royal Avenue: Rs 770 per sq.ft (2024)
• Royal Residency: Rs 770 per sq.ft (2024)
• Sai Nagar: Rs 880 per sq.ft (2024)
• Saravanan Nagar: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Royal Court Phase I to III

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, resulting in a total cost of Rs 69,300. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Royal Court Phase I to III?

The Royal Court Phase I to III is covered by the Padappai Sub Registrar Office located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

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

When registering a property, buyers should be aware that the guideline value is considered for calculating fees, ensuring that the transaction is in compliance with local regulations.

Frequently asked questions

What is the current guideline value of Royal Court Phase I to III?

The current guideline value of Royal Court Phase I to III is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 469 per sq.ft in 2017 to Rs 700 per sq.ft in 2023, and further to Rs 770 per sq.ft in 2024. This represents a total increase of 64% from 2017 to 2024.

What are the stamp duty and registration fees for properties in this area?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 53,900, and the registration fee would be Rs 15,400, making a total of Rs 69,300.

Which Sub Registrar Office covers this property?

The Padappai Sub Registrar Office covers Royal Court Phase I to III, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the land classification for Royal Court Phase I to III?

Royal Court Phase I to III is classified as Residential Class II Type - I, indicating its residential nature within the local zoning regulations.