Guideline Value for Royal Homes

Royal Homes guideline value

The current guideline value of Royal Homes in Nemili_B village is Rs 300 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. The earliest recorded revision was in 2017, where the guideline value was Rs 201 per sq.ft. This figure remained unchanged until the 2023 revision, which also listed the value at Rs 300 per sq.ft, marking a 49% increase from 2017. The 2024 revision maintained this figure at Rs 300 per sq.ft, showing no change from 2023.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 49%.

Guideline values in Nemili_B

In Nemili_B, there are 97 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 1,500 per sq.ft. The median value for these streets is Rs 250 per sq.ft, placing the guideline value of Royal Homes above this median.

• Ramanan Nagar: Rs 200 per sq.ft (2024)
• Rajiv Gandhi Street: Rs 200 per sq.ft (2024)
• Rajivgandhi Nagar: Rs 200 per sq.ft (2024)
• Saraswathi Nagar: Rs 800 per sq.ft (2024)
• Rajan Nagar: Rs 300 per sq.ft (2024)
• Rajaji Street: Rs 150 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 300 per sq.ft, the total guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total fees to Rs 27,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Royal Homes?

The Royal Homes property is covered by 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 Nemili_B

The guideline value plays a crucial role during the registration process when buying or selling property in Nemili_B. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the established value of the property.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the value of the transaction.

Frequently asked questions

What is the current guideline value of Royal Homes?

The current guideline value of Royal Homes in Nemili_B village is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 300 per sq.ft since 2023, with a 49% increase from Rs 201 per sq.ft in 2017. There are no recorded figures for the years 2002, 2003, 2007, and 2012.

What are the guideline values of other streets in Nemili_B?

Other streets in Nemili_B have varying guideline values, ranging from Rs 150 to Rs 1,500 per sq.ft. The median value for these streets is Rs 250 per sq.ft.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the higher of the guideline value or the sale price, while the registration fee is charged at 2%. For example, a 1,000 sq.ft plot at Rs 300 per sq.ft would incur a total of Rs 27,000 in fees.

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

The Sub Registrar Office covering Royal Homes is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find more details online.