Guideline Value for Royal Lands Co-op Maha Nagar Phase II

Royal Lands Co-op Maha Nagar Phase II guideline value

The current guideline value of Royal Lands Co-op Maha Nagar Phase II is Rs 600 per sq.ft. This property is located in Vellarai village and falls under the Sriperumpudur SRO. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Royal Lands Co-op Maha Nagar Phase II has changed

The guideline value for Royal Lands Co-op Maha Nagar Phase II has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 200 per sq.ft, which increased significantly to Rs 600 per sq.ft in the 2012 revision, marking a 200% increase. However, in the 2017 revision, the value decreased to Rs 402 per sq.ft, a drop of 33%. The subsequent revisions in 2023 and 2024 maintained the value at Rs 600 per sq.ft, reflecting no change from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 200%.

Guideline values in Vellarai

In Vellarai, there are 20 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 110 to Rs 1,500 per sq.ft. The median value among these streets is Rs 300 per sq.ft, placing Royal Lands Co-op Maha Nagar Phase II above that median.

• Rajrukh Enclave: Rs 300 per sq.ft (2024)
• Sbk Avenue Phase I: Rs 400 per sq.ft (2024)
• Sbk Avenue Phase II: Rs 400 per sq.ft (2024)
• Pokkisham Nagar: Rs 300 per sq.ft (2024)
• Srimathi city: Rs 300 per sq.ft (2024)
• Mettu Street: Rs 110 per sq.ft (2024)

Stamp duty and registration fee for property in Royal Lands Co-op Maha Nagar Phase II

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, totaling Rs 54,000. It is important to note that the 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 Lands Co-op Maha Nagar Phase II?

The Sub Registrar Office that covers Royal Lands Co-op Maha Nagar Phase II 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 Vellarai

The guideline value is a crucial factor in the registration process when buying or selling property in Vellarai. It serves as the basis for calculating the stamp duty and registration fees, ensuring that the transaction is recorded at a consistent value recognized by the authorities.

When a property is sold, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Royal Lands Co-op Maha Nagar Phase II?

The current guideline value of Royal Lands Co-op Maha Nagar Phase II is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 600 per sq.ft in 2012, then decreased to Rs 402 per sq.ft in 2017, and remained at Rs 600 per sq.ft in 2023 and 2024.

What is the land classification for Royal Lands Co-op Maha Nagar Phase II?

The land classification for Royal Lands Co-op Maha Nagar Phase II is Commercial Class I Type - I.

Where can I find the Sub Registrar Office for this property?

The Sub Registrar Office for Royal Lands Co-op Maha Nagar Phase II is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Vellarai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 6,00,000, the stamp duty would be Rs 42,000 at a rate of 7%.