Guideline Value for Royal Town Phase 1

Royal Town Phase 1 guideline value

The current guideline value of Royal Town Phase 1 is Rs 350 per sq.ft, effective from 1 July 2024. This property is located in Amarampedu village, under the Sriperumpudur SRO, and is classified as Residential Special Type - I.

How the guideline value of Royal Town Phase 1 has changed

The guideline value for Royal Town Phase 1 has seen several revisions over the years. The earliest recorded revision was in 2007, where the guideline value was Rs 100 per sq.ft. This increased significantly to Rs 350 per sq.ft in 2012, representing a 250% increase. However, in 2017, the value decreased to Rs 234 per sq.ft, marking a 33% decline. The value then rose again to Rs 350 per sq.ft in both 2023 and the latest revision in 2024, showing no change between these two years.

Overall, from the 2007 revision to the current 2024 figure, there has been a substantial increase of 250%. It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Amarampedu

In Amarampedu, there are 45 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 500 per sq.ft, with a median value of Rs 200 per sq.ft. The guideline value of Rs 350 per sq.ft for Royal Town Phase 1 is above this median.

• Royal Town Phase 2: Rs 350 per sq.ft (2024)
• Real Value Nagar Phase 3: Rs 350 per sq.ft (2024)
• Real Value Nagar: Rs 350 per sq.ft (2024)
• Sarvamangala Nagar: Rs 200 per sq.ft (2024)
• School Street: Rs 350 per sq.ft (2024)
• Sivan Koil Street: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Royal Town Phase 1

For a 1,000 sq.ft plot at the current guideline value of Rs 350 per sq.ft, the total guideline value would be Rs 3,50,000. The stamp duty at 7% would amount to Rs 24,500, and the registration fee at 2% would be Rs 7,000, totaling Rs 31,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Royal Town Phase 1?

The Sub Registrar Office that covers Royal Town Phase 1 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 Amarampedu

The guideline value is a crucial factor during the registration of property transactions in Amarampedu. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When buying or selling property, the guideline value ensures that the transaction is recorded at a value that reflects the government's assessment of the property's worth. This helps in maintaining transparency and standardization in property dealings.

Frequently asked questions

What is the current guideline value of Royal Town Phase 1?

The current guideline value of Royal Town Phase 1 is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 350 per sq.ft in 2012, then decreased to Rs 234 per sq.ft in 2017, and returned to Rs 350 per sq.ft in 2023 and 2024.

What is the land classification for Royal Town Phase 1?

Royal Town Phase 1 is classified as Residential Special Type - I, which indicates its suitability for residential purposes.

What are the stamp duty and registration fees for property in Royal Town Phase 1?

For a property valued at Rs 3,50,000, the stamp duty would be Rs 24,500 and the registration fee would be Rs 7,000, totaling Rs 31,500.

Where is the Sub Registrar Office for Royal Town Phase 1 located?

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