Guideline Value for Royal Garden

Royal Garden guideline value

The current guideline value of Royal Garden in Manancheri village under the Kunrathur SRO is Rs 660 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Royal Garden has changed

The guideline value of Royal Garden has seen several revisions over the years. The earliest recorded figure is from 2007, which was Rs 175 per sq.ft. This increased significantly to Rs 750 per sq.ft in 2012, marking a substantial rise of 329%. However, by 2017, the value dropped to Rs 502 per sq.ft, a decrease of 33%. The value then increased to Rs 600 per sq.ft in 2023, and most recently to Rs 660 per sq.ft in 2024, reflecting a 10% increase.

There are no recorded figures for the years 2002 and 2003 for this street. From 2017 to 2023, the guideline value increased by 20%, resulting in the current overall increase of 277% from the 2007 figure to the 2024 figure.

Guideline values in Manancheri

In Manancheri, there are 59 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 3,400 per sq.ft, with a median value of Rs 990 per sq.ft. The guideline value of Royal Garden is below this median.

• Road Street: Rs 1,320 per sq.ft (2024)
• Saraswathi Basu Nagar: Rs 990 per sq.ft (2024)
• Saravana Nagar: Rs 990 per sq.ft (2024)
• RajaGanapathi Nagar: Rs 990 per sq.ft (2024)
• Pooja Avenue: Rs 1,320 per sq.ft (2024)
• Ponni Nagar: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Royal Garden

For a 1,000 sq.ft plot at the current rate of Rs 660 per sq.ft, the guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, totaling Rs 59,400. 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 details.

Which Sub Registrar Office covers Royal Garden?

The Sub Registrar Office that covers Royal Garden is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Manancheri. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property. Buyers should be aware that the guideline value is a reference point for calculating these costs.

When registering a property, the applicable stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Royal Garden?

The current guideline value of Royal Garden is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 175 per sq.ft in 2007 to Rs 660 per sq.ft in 2024, with various increases and decreases in between.

What is the median guideline value in Manancheri?

The median guideline value in Manancheri is Rs 990 per sq.ft for the year 2024.

How is stamp duty calculated in Royal Garden?

Stamp duty in Royal Garden is calculated based on the guideline value or the sale price, whichever is higher. The current rate is 7% of the guideline value.

Where can I find the Sub Registrar Office for Royal Garden?

The Sub Registrar Office for Royal Garden is located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find more information online.