Guideline Value for Royal Town Phase 2

Royal Town Phase 2 guideline value

The current guideline value of Royal Town Phase 2 in Amarampedu village, under the Sriperumpudur SRO, is Rs 350 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Royal Town Phase 2 has changed

The guideline value for Royal Town Phase 2 has seen several revisions over the years. In 2007, the guideline value was Rs 100 per sq.ft, which increased significantly to Rs 350 per sq.ft in 2012. Following this, there was a decrease to Rs 234 per sq.ft in 2017, and then it remained constant at Rs 350 per sq.ft in both 2023 and the current 2024 revision, reflecting a 0% change from 2023 to 2024. Notably, the overall change from 2007 to 2024 is +250%.

The register does not have figures for the years 2002 and 2003 for this street. From 2012 to 2017, the value decreased by 33%, while the increase from 2017 to 2023 was 50%.

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. Royal Town Phase 2's current guideline value exceeds this median.

• Royal Town Phase 1: 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 2

For a 1,000 sq.ft plot at the current guideline value of Rs 350 per sq.ft, the total guideline value amounts to Rs 3,50,000. The stamp duty at 7% would be Rs 24,500, and the registration fee at 2% would be Rs 7,000, leading to a total of 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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Royal Town Phase 2?

The Royal Town Phase 2 area is covered by the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor in the registration process of property transactions in Amarampedu. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property.

When registering a property, the guideline value is used to calculate the applicable fees, ensuring that both buyers and sellers are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Royal Town Phase 2?

The current guideline value of Royal Town Phase 2 is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, starting from Rs 100 per sq.ft in 2007 to Rs 350 per sq.ft in 2012, then decreasing to Rs 234 per sq.ft in 2017, and remaining at Rs 350 per sq.ft in 2023 and 2024.

What is the land classification for Royal Town Phase 2?

The land classification for Royal Town Phase 2 is Residential Special Type - I, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 3,50,000, the stamp duty would be Rs 24,500 at 7%, and the registration fee would be Rs 7,000 at 2%, totaling Rs 31,500.

Which office handles property registrations for Royal Town Phase 2?

The Sriperumpudur Sub Registrar Office handles property registrations for Royal Town Phase 2, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.