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Guideline Value

Corporate

Guideline Value for Dr. Ramamoorthy Nagar 1st Street

₹2750/sq.ft.

The guideline value for Dr. Ramamoorthy Nagar 1st Street in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 2750 per sq.ft, effective 1 July 2024. The land classification is Residential Class I Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madipakkam-1

Village

Velacheri

SRO

Residential Class I Type - III
History
Period Guideline Value
From 1-7-2024 ₹2750 /sq.ft.
From 1-4-2023 N/A
From 9-6-2017 To 31-3-2023 N/A
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
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)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[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. Ramamoorthy Nagar 1st Street

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Dr. Ramamoorthy Nagar 1st Street guideline value

The current guideline value of Dr. Ramamoorthy Nagar 1st Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village and falls under the Velacheri SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Dr. Ramamoorthy Nagar 1st Street has changed

The register has no figure for Dr. Ramamoorthy Nagar 1st Street for the years 2002, 2003, 2007, 2012, 2017, and 2023. The most recent revision in 2024 sets the guideline value at Rs 2,750 per sq.ft.

There have been no changes between the revisions above. The only figure available for this street is from the 2024 revision.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, which is equal to the guideline value of Dr. Ramamoorthy Nagar 1st Street.

Stamp duty and registration fee for property in Dr. Ramamoorthy Nagar 1st Street

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

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Dr. Ramamoorthy Nagar 1st Street?

The Sub Registrar Office that covers Dr. Ramamoorthy Nagar 1st Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is an essential factor in the registration process when buying or selling property in Madipakkam-1. It determines the minimum value at which a property can be registered, ensuring that the transaction is conducted at a fair price as per government regulations.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Dr. Ramamoorthy Nagar 1st Street?

The current guideline value of Dr. Ramamoorthy Nagar 1st Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

What was the guideline value for previous years?

The register has no figure for Dr. Ramamoorthy Nagar 1st Street for the years 2023, 2017, 2012, 2007, 2003, and 2002. The only available figure is from the 2024 revision.

How is the stamp duty calculated for properties in this area?

Stamp duty for properties in Dr. Ramamoorthy Nagar 1st Street is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

Which office handles the registration of properties in Dr. Ramamoorthy Nagar 1st Street?

The Velacheri Sub Registrar Office handles the registration of properties in Dr. Ramamoorthy Nagar 1st Street. It is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Dr. Ramamoorthy Nagar 1st Street?

The land classification for Dr. Ramamoorthy Nagar 1st Street is Residential Class I Type - III, indicating its suitability for residential development.