Guideline Value for Royal city

Royal city guideline value

The current guideline value of Royal city, located in Soorapattu village under the Ambattur SRO, is Rs 1,400 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - III land classification.

How the guideline value of Royal city has changed

The guideline value for Royal city has undergone several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was Rs 1,300 per sq.ft. This was followed by a decrease to Rs 871 per sq.ft in 2017. In 2023, the value increased significantly to Rs 1,300 per sq.ft, and the latest revision in 2024 set the value at Rs 1,400 per sq.ft, marking an 8% increase from the previous year.

Between the revisions, the guideline value saw notable changes. From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, it increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 8%. The register has no figures for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Soorapattu

In Soorapattu village, there are 115 streets under the Ambattur SRO, with guideline values ranging from Rs 1,100 to Rs 5,100 per sq.ft. The median guideline value for these streets is Rs 1,300 per sq.ft, and Royal city is above this median.

• Royal Star: Rs 2,201 per sq.ft (2024)
• Ratchagan Street: Rs 1,100 per sq.ft (2024)
• Samuga Koodam Street: Rs 1,200 per sq.ft (2024)
• Raj Nagar: Rs 1,700 per sq.ft (2024)
• Rajiv Gandhi Street: Rs 1,100 per sq.ft (2024)
• School Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Royal city

For a 1,000 sq.ft plot at the current guideline value of Rs 1,400 per sq.ft, the total guideline value amounts to Rs 14,00,000. The stamp duty at 7% would be Rs 98,000, and the registration fee at 2% would be Rs 28,000, making the total fees Rs 1,26,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Royal city?

The Royal city area is covered by 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 details.

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

The guideline value is a crucial factor when buying or selling property in Soorapattu. It serves as a benchmark for determining the minimum value of the property for registration purposes, ensuring that transactions are recorded accurately.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which impacts the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Royal city?

The current guideline value of Royal city is Rs 1,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,300 per sq.ft in 2012 to Rs 871 per sq.ft in 2017, then back to Rs 1,300 per sq.ft in 2023, and finally to Rs 1,400 per sq.ft in 2024.

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

For a 1,000 sq.ft plot at Rs 1,400 per sq.ft, the total guideline value is Rs 14,00,000. The stamp duty is Rs 98,000, and the registration fee is Rs 28,000, totaling Rs 1,26,000.

Which Sub Registrar Office is responsible for Royal city?

The Ambattur Sub Registrar Office covers Royal city, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the land classification for Royal city?

Royal city falls under the Residential Class I Type - III land classification.