Guideline Value for Royal Paradise

Royal Paradise guideline value

The current guideline value of Royal Paradise in Kolathur village, under the Sriperumpudur SRO, is Rs 250 per sq.ft, effective from 1 July 2024. This property falls under the Residential Class I Type - I land classification.

How the guideline value of Royal Paradise has changed

The guideline value for Royal Paradise has seen several revisions over the years. In 2007, the value was Rs 100 per sq.ft, which increased to Rs 250 per sq.ft in 2012, marking a significant rise of 150%. However, in 2017, the value decreased to Rs 167 per sq.ft, a reduction of 33%. The 2023 revision maintained the value at Rs 250 per sq.ft, and the same value continues into the 2024 revision, showing no change from the previous year.

From 2017 to 2023, the guideline value increased by 50%. Overall, from 2007 to 2024, there has been a total increase of 150% in the guideline value for Royal Paradise.

Guideline values in Kolathur

In Kolathur, there are 45 streets under the Sriperumpudur SRO carrying a 2024 guideline value ranging from Rs 100 to Rs 1,300 per sq.ft. The median value is Rs 250 per sq.ft, which is the same as the 2024 figure for Royal Paradise.

• RPG Global City: Rs 250 per sq.ft (2024)
• Rangaswamy Koil Street: Rs 150 per sq.ft (2024)
• Rajiv Gandhi Street: Rs 200 per sq.ft (2024)
• Sasthapuri: Rs 200 per sq.ft (2024)
• Sathyam Nagar: Rs 200 per sq.ft (2024)
• Seelam Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Royal Paradise

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, while the registration fee at 2% would be Rs 5,000, bringing the total cost for these fees to Rs 22,500. 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 detailed calculations.

Which Sub Registrar Office covers Royal Paradise?

The Royal Paradise area 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 Kolathur

The guideline value is a crucial factor in the registration process when buying or selling property in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are collected by the government. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Royal Paradise?

The current guideline value of Royal Paradise is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, with the most recent change being from Rs 250 per sq.ft in 2023 to Rs 250 per sq.ft in 2024, showing no change. The value increased from Rs 100 per sq.ft in 2007 to Rs 250 per sq.ft in 2012, then decreased to Rs 167 per sq.ft in 2017.

What is the land classification of Royal Paradise?

Royal Paradise is classified as Residential Class I Type - I, indicating its suitability for residential development.

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

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

How is stamp duty calculated for properties in Royal Paradise?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 2,50,000, the stamp duty at 7% would be Rs 17,500.