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Guideline Value

Corporate

Guideline Value for Dr. Ramamoorthy Nagar 2nd Main Road

₹2750/sq.ft.

The guideline value for Dr. Ramamoorthy Nagar 2nd Main Road 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 2nd Main Road

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Dr. Ramamoorthy Nagar 2nd Main Road guideline value

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

How the guideline value of Dr. Ramamoorthy Nagar 2nd Main Road has changed

According to the guideline value register, there are no figures available for the years 2002, 2003, 2007, 2012, 2017, and 2023 for Dr. Ramamoorthy Nagar 2nd Main Road. The only revision available is from 2024, which is Rs 2,750 per sq.ft.

The 2024 revision reflects a guideline value that is equal to the median value for streets in Madipakkam-1, which is also Rs 2,750 per sq.ft. There have been no changes recorded between the revisions above.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO, with guideline values 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 the same as the guideline value for Dr. Ramamoorthy Nagar 2nd Main Road.

Stamp duty and registration fee for property in Dr. Ramamoorthy Nagar 2nd Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total 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 cost to Rs 2,47,500. Please note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Dr. Ramamoorthy Nagar 2nd Main Road?

The Sub Registrar Office that covers Dr. Ramamoorthy Nagar 2nd Main Road 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 more details.

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

The guideline value is a critical factor in the registration of property transactions in Madipakkam-1. It determines the minimum value on which stamp duty and registration fees are calculated during the sale or purchase of property.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value for taxation purposes. Buyers and sellers must be aware of the guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value for Dr. Ramamoorthy Nagar 2nd Main Road?

The current guideline value for Dr. Ramamoorthy Nagar 2nd Main Road is Rs 2,750 per sq.ft, effective from 1 July 2024.

How often is the guideline value revised?

The guideline value is revised periodically, with the most recent revision occurring in 2024. Previous revisions for this street have no figures available for the years 2002, 2003, 2007, 2012, 2017, and 2023.

What is the land classification for Dr. Ramamoorthy Nagar 2nd Main Road?

Dr. Ramamoorthy Nagar 2nd Main Road falls under the Residential Class I Type - III land classification.

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

The Sub Registrar Office covering Dr. Ramamoorthy Nagar 2nd Main Road is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 27,50,000 would incur a stamp duty of Rs 1,92,500 at a rate of 7%.