Guideline Value for Royal Farms

Royal Farms guideline value

The current guideline value of Royal Farms in Andavakkam village is Rs 100 per sq.ft, effective from 1 July 2024. This property falls under the Madurandakam SRO and is classified as Residential Class I Type - I.

How the guideline value of Royal Farms has changed

Over the years, the guideline value for Royal Farms has seen several revisions. The earliest recorded figure is from 2007, where the value was Rs 20 per sq.ft. This increased significantly to Rs 100 per sq.ft in 2012, marking a 400% rise. However, in 2017, the value decreased to Rs 67 per sq.ft, which was a 33% drop. The value remained at Rs 100 per sq.ft in 2023 and continues at the same rate in the 2024 revision, indicating no change from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 400%. The register does not provide figures for the years 2002 and 2003 for this street.

Guideline values in Andavakkam

In Andavakkam, there are 7 streets under the Madurandakam SRO with a 2024 guideline value ranging from Rs 100 to Rs 300 per sq.ft. The median value for these streets is Rs 150 per sq.ft, placing Royal Farms below this median.

• Sri Ganesh Nagar: Rs 100 per sq.ft (2024)
• Sri Manoprabu Nagar: Rs 100 per sq.ft (2024)
• Sslf City Dr.Sakthivel Nagar: Rs 150 per sq.ft (2024)
• Victory Nagar Phase-I: Rs 250 per sq.ft (2024)
• Eyarkkai Nagar Phase-I&ii: Rs 300 per sq.ft (2024)
• Eyarkai Nagar: Rs 200 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 100 per sq.ft, the total guideline value would be Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, bringing the total fees to Rs 9,000. 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 information.

Which Sub Registrar Office covers Royal Farms?

The Sub Registrar Office that covers Royal Farms is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during property transactions in Andavakkam. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures transparency and compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Royal Farms?

The current guideline value of Royal Farms is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 20 per sq.ft in 2007 to Rs 100 per sq.ft in 2012, then decreased to Rs 67 per sq.ft in 2017, and has remained at Rs 100 per sq.ft in 2023 and 2024.

What are the guideline values of other streets in Andavakkam?

Other streets in Andavakkam have guideline values ranging from Rs 100 to Rs 300 per sq.ft, with the median being Rs 150 per sq.ft.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 1,00,000, with stamp duty at Rs 7,000 and registration fee at Rs 2,000, totaling Rs 9,000.

Which office handles registrations for Royal Farms?

The Madurandakam Sub Registrar Office handles registrations for Royal Farms, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.