Guideline Value for Royal Vila

Royal Vila guideline value

The current guideline value of Royal Vila in Kerugambakkam village is Rs 1,980 per sq.ft, effective from 1 July 2024. This property falls under the Pammal SRO and is classified as Residential Class II Type - II.

How the guideline value of Royal Vila has changed

The guideline value for Royal Vila has seen several revisions over the years. The 2017 revision set the value at Rs 1,206 per sq.ft, which was then increased to Rs 1,800 per sq.ft in the 2023 revision. The most recent revision in 2024 has raised the guideline value to Rs 1,980 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

There have been revisions in 2002, 2003, 2007, and 2012, but the register has no figure for this street in those years. The significant changes between revisions include a 49% increase from 2017 to 2023, reflecting a steady rise in the guideline value over the years.

Guideline values in Kerugambakkam

In Kerugambakkam, there are 144 streets under the Pammal SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 4,800 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, positioning Royal Vila's 2024 figure below that median.

• Roja Avenue: Rs 1,980 per sq.ft (2024)
• R.K.Nagar (S.No.595/7a): Rs 2,200 per sq.ft (2024)
• R.K. Nagar: Rs 1,980 per sq.ft (2024)
• R.K.B. Nagar: Rs 1,980 per sq.ft (2024)
• R.K. Arasu Street: Rs 1,980 per sq.ft (2024)
• Sai Avenue: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Royal Vila

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, while the registration fee at 2% would be Rs 39,600, bringing the total fees together to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Royal Vila?

The Royal Vila property is covered by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Kerugambakkam. It is used to determine the stamp duty and registration fees that need to be paid when a property transaction occurs. Buyers and sellers must be aware of the current guideline value to ensure compliance with regulatory requirements.

When buying or selling property, the guideline value is referenced to ascertain the minimum value for taxation purposes. This ensures that the government receives the appropriate revenue from property transactions, and it is essential for both parties to understand these values before proceeding with any transaction.

Frequently asked questions

What is the current guideline value of Royal Vila?

The current guideline value of Royal Vila is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,206 per sq.ft in 2017 to Rs 1,800 per sq.ft in 2023, and then to Rs 1,980 per sq.ft in 2024, reflecting a total increase of 64% from 2017 to 2024.

What are the stamp duty and registration fees for Royal Vila?

For a 1,000 sq.ft plot, the total guideline value is Rs 19,80,000. The stamp duty would be Rs 1,38,600, and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which office handles the registration for Royal Vila?

The registration for Royal Vila is handled by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It serves as a baseline for taxation and ensures that the government receives the appropriate revenue from property sales.