Guideline Value for Royal Homes

Royal Homes guideline value

The current guideline value of Royal Homes in Katrampakkam village is Rs 400 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 Homes has changed

The guideline value for Royal Homes has seen several revisions over the years. In 2007, the value was Rs 150 per sq.ft, which increased significantly to Rs 400 per sq.ft in 2012, marking a growth of 167%. However, the value dropped to Rs 268 per sq.ft in 2017, a decrease of 33%. The 2023 revision maintained the guideline value at Rs 400 per sq.ft, and the same value will continue into the 2024 revision, showing no change from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 167%. The revisions for the years 2002 and 2003 do not have figures listed for this street in the register.

Guideline values in Katrampakkam

Katrampakkam has a total of 41 streets under the Sriperumpudur SRO, with 2024 guideline values ranging from Rs 150 to Rs 800 per sq.ft. The median value for these streets is Rs 250 per sq.ft, placing Royal Homes above this median.

• Ram Nagar: Rs 250 per sq.ft (2024)
• Sathiya Sai Nagar: Rs 250 per sq.ft (2024)
• Selliyamman Koil Street: Rs 300 per sq.ft (2024)
• Quidemillath Nagar: Rs 250 per sq.ft (2024)
• Poongavanaththamman Koil Street: Rs 250 per sq.ft (2024)
• Sifea Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Royal Homes

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total to Rs 36,000. It is important to note that 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 Homes?

The Sub Registrar Office covering Royal Homes 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 Katrampakkam

The guideline value plays a crucial role in the registration process when buying or selling property in Katrampakkam. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers should be aware that the guideline value is set by the government and reflects the minimum value for property transactions in the area.

When a property is sold, the guideline value ensures that the transaction is registered at a fair value, thereby preventing undervaluation. This helps maintain transparency in property dealings and ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Royal Homes?

The current guideline value for Royal Homes in Katrampakkam village is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 400 per sq.ft in 2012, then decreased to Rs 268 per sq.ft in 2017. It remained at Rs 400 per sq.ft in both 2023 and 2024.

What is the median guideline value for streets in Katrampakkam?

The median guideline value for the 41 streets in Katrampakkam is Rs 250 per sq.ft, with Royal Homes being above this median at Rs 400 per sq.ft.

What are the stamp duty and registration fees for a property in Royal Homes?

For a 1,000 sq.ft plot valued at Rs 4,00,000, the stamp duty would be Rs 28,000 and the registration fee would be Rs 8,000, totaling Rs 36,000.

Where is the Sub Registrar Office for Royal Homes located?

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