Guideline Value for Royal Residency

Royal Residency guideline value

The current guideline value of Royal Residency in Thirumullaivoyal village, under the Ambattur SRO, is Rs 1,900 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Royal Residency has changed

The guideline value for Royal Residency has undergone several revisions since 2002. The earliest recorded figure is from 2002, where it was Rs 22 per sq.ft. This increased significantly to Rs 80 per sq.ft in 2003, marking a change of +264%. Following this, the value rose to Rs 200 per sq.ft in 2007, reflecting a +150% increase. The next revision in 2012 saw the guideline value remain at Rs 1,800 per sq.ft, with no change from the previous figure.

In 2023, the guideline value was again set at Rs 1,800 per sq.ft, showing no change from 2012. However, in the 2024 revision, the value increased to Rs 1,900 per sq.ft, which is a +6% change from the previous year. Overall, from 2002 to 2024, the guideline value has increased by +8536%.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO, with guideline values ranging from Rs 880 to Rs 5,500 per sq.ft in 2024. The median value for these streets is Rs 2,400 per sq.ft, placing Royal Residency's 2024 figure below this median.

• Rukumani Street: Rs 1,600 per sq.ft (2024)
• Saibaba Street(srinagar colony): Rs 2,700 per sq.ft (2024)
• Ravindran Nagar: Rs 1,500 per sq.ft (2024)
• Sai Prabhu Batha Street(Srinagar Colony): Rs 2,700 per sq.ft (2024)
• Sairam Nagar: Rs 880 per sq.ft (2024)
• Rani Anna Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Royal Residency

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, totaling Rs 1,71,000. 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 detailed calculations.

Which Sub Registrar Office covers Royal Residency?

The Sub Registrar Office that covers Royal Residency is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Thirumullaivoyal

The guideline value is a crucial factor in the registration process when buying or selling property in Thirumullaivoyal. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property is sold, the buyer and seller must consider the guideline value to calculate the applicable fees. It is essential to ensure that the sale price is at least equal to the guideline value to avoid any legal complications during the registration process.

Frequently asked questions

What is the current guideline value of Royal Residency?

The current guideline value of Royal Residency is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 22 per sq.ft in 2002 to Rs 1,900 per sq.ft in 2024, reflecting an overall increase of +8536%.

What is the land classification for Royal Residency?

The land classification for Royal Residency is Residential Class II Type - I.

What is the registration office for Royal Residency?

The registration office for Royal Residency is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for properties in Royal Residency?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 19,00,000 would incur a stamp duty of Rs 1,33,000 at 7%.