Guideline Value for Royal Farms

Royal Farms guideline value

The current guideline value of Royal Farms in Venkadu village is Rs 310 per sq.ft, effective from 1 July 2024. This property falls under the Sriperumpudur SRO and is classified as Residential Class I Type - I.

How the guideline value of Royal Farms has changed

The guideline value for Royal Farms has seen several revisions over the years. Starting from Rs 37 per sq.ft in 2007, it increased significantly to Rs 300 per sq.ft in 2012, marking a rise of 711%. However, in 2017, the value dropped to Rs 201 per sq.ft, a decrease of 33%. The value then rose again to Rs 300 per sq.ft in 2023, and most recently to Rs 310 per sq.ft in 2024, reflecting a 3% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 figure to the current 2024 value, there has been a remarkable increase of 738%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Venkadu

In Venkadu, there are 24 streets under the Sriperumpudur SRO with a 2024 guideline value ranging from Rs 100 to Rs 471 per sq.ft. The median value for these streets is Rs 300 per sq.ft, making the guideline value of Royal Farms above this median.

• Shanthi Nagar: Rs 300 per sq.ft (2024)
• Pooja Avenue: Rs 300 per sq.ft (2024)
• Siva Vishnu Garden: Rs 300 per sq.ft (2024)
• P.G.Road: Rs 300 per sq.ft (2024)
• Perumal Nagar: Rs 300 per sq.ft (2024)
• Perumal Koil Street: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Royal Farms

For a 1,000 sq.ft plot at the current guideline value of Rs 310 per sq.ft, the total guideline value amounts to Rs 3,10,000. The stamp duty is charged at 7%, which totals Rs 21,700, while the registration fee is 2%, amounting to Rs 6,200. Together, the total cost for stamp duty and registration fee is Rs 27,900. 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 Farms?

The Sub Registrar Office that covers Royal Farms is 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 Venkadu

The guideline value is a crucial factor when registering property in Venkadu. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately and fairly, reflecting the value of the property as per government regulations. This helps in maintaining transparency in property transactions.

Frequently asked questions

What is the current guideline value of Royal Farms?

The current guideline value of Royal Farms is Rs 310 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 37 per sq.ft in 2007 to Rs 310 per sq.ft in 2024, with various increases and decreases along the way, including a significant rise of 711% from 2007 to 2012.

What is the median guideline value in Venkadu?

The median guideline value in Venkadu is Rs 300 per sq.ft, with Royal Farms having a value above this median at Rs 310 per sq.ft.

What are the stamp duty and registration fees for Royal Farms?

For a 1,000 sq.ft plot at the guideline value of Rs 310 per sq.ft, the stamp duty is Rs 21,700 and the registration fee is Rs 6,200, totaling Rs 27,900.

Where is the Sub Registrar Office for Royal Farms located?

The Sub Registrar Office for Royal Farms is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.