Guideline Value

Corporate

Guideline Value for DR. RAMAIYAH NAGAR PART 1 AND II

₹2750/sq.ft.

The guideline value for Dr. Ramaiyah Nagar Part 1 And Ii in Medavakkam village (Chennai South Joint I SRO, Chennai zone) is Rs 2750 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 10% change. The land classification is Commercial Class I Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Medavakkam

Village

Chennai South Joint I

SRO

Commercial Class I Type - III
History
Period Guideline Value
From 1-7-2024 ₹2750 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹900 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510536
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Dr. Ramaiyah Nagar Part 1 And Ii

Need Complete Property Verification?

Get ownership details, EC records, FMB, zone checks, geo-insights & AI analysis - all in one place

Ownership Details
EC Records
FMB Sketch
Zone Checks
Geo-Insights
AI Analysis
Try VerifyMyLand Now ✨ Get comprehensive property verification in minutes

Dr. Ramaiyah Nagar Part 1 And II guideline value

The current guideline value for Dr. Ramaiyah Nagar Part 1 And II is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Medavakkam village and falls under the Chennai South Joint I SRO. The land classification for this street is Commercial Class I Type - III.

How the guideline value of Dr. Ramaiyah Nagar Part 1 And II has changed

The guideline value for Dr. Ramaiyah Nagar Part 1 And II has seen several revisions over the years. The 2007 revision recorded a value of Rs 900 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a rise of 178%. However, this value dropped to Rs 1,675 per sq.ft in the 2017 revision, reflecting a decrease of 33%. The 2023 revision brought the value up to Rs 2,500 per sq.ft, and the most recent 2024 revision set it at Rs 2,750 per sq.ft, an increase of 10% from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 206%. Notably, the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Dr. Ramaiyah Nagar Part 1 And II above this median.

Stamp duty and registration fee for property in Dr. Ramaiyah Nagar Part 1 And II

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost for these fees to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Dr. Ramaiyah Nagar Part 1 And II?

The Sub Registrar Office that covers Dr. Ramaiyah Nagar Part 1 And II is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Medavakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements during the transaction.

Additionally, the guideline value helps in establishing a fair price for property transactions, as it reflects the official value assigned by the government based on various factors. This ensures transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value for Dr. Ramaiyah Nagar Part 1 And II?

The current guideline value for Dr. Ramaiyah Nagar Part 1 And II is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 900 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 206% over the years.

What is the stamp duty rate for property transactions in this area?

The stamp duty rate for property transactions in Dr. Ramaiyah Nagar Part 1 And II is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Dr. Ramaiyah Nagar Part 1 And II is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.

What are the other streets with guideline values in Medavakkam?

Other streets in Medavakkam include Dr. Ramadoss Street, Dr. Vimala Nagar, and several others, with values ranging from Rs 2,200 to Rs 2,750 per sq.ft as per the 2024 revision.