Guideline Value for Royal Garden

Royal Garden guideline value

The current guideline value of Royal Garden in Varadarajapuram village, under the Padappai SRO, is Rs 990 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class III Type - I.

How the guideline value of Royal Garden has changed

The guideline value of Royal Garden has seen several revisions over the years. In 2007, the value was Rs 120 per sq.ft, which increased significantly to Rs 900 per sq.ft in 2012, marking a rise of 650%. However, it then decreased to Rs 603 per sq.ft in 2017, reflecting a decline of 33%. The value rose again to Rs 900 per sq.ft in 2023, and most recently, it has increased to Rs 990 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 725%. The revisions for the years 2002 and 2003 do not have any figures for this street in the register.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value for Royal Garden is below this median.

• Rose Garden: Rs 990 per sq.ft (2024)
• Riya Avenue: Rs 2,220 per sq.ft (2024)
• Sai Beverly Hills: Rs 1,540 per sq.ft (2024)
• Sai Beverly Hills Phase-II: Rs 1,540 per sq.ft (2024)
• Sai Beverly Hills Phase-III: Rs 1,540 per sq.ft (2024)
• Sai Beverly Hills Phase IV: Rs 2,300 per sq.ft (2024)

Stamp duty and registration fee for property in Royal Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total to Rs 89,100. The 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 Garden?

The Royal Garden area 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 Varadarajapuram

The guideline value is a crucial factor in the registration process when buying or selling property in Varadarajapuram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the higher value between the guideline value and the sale price is considered for calculating the stamp duty. 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 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 120 per sq.ft in 2007 to Rs 990 per sq.ft in 2024, reflecting a total increase of 725% over the years.

What is the land classification for Royal Garden?

The land classification for Royal Garden is Residential Class III Type - I, indicating its suitability for residential development.

Where is the Padappai Sub Registrar Office located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for properties in Royal Garden?

Stamp duty is calculated based on the higher value between the guideline value and the sale price. For example, for a plot valued at Rs 9,90,000, the stamp duty would be Rs 69,300 at 7%.