Guideline Value for Dr. Ramamoorthy Nagar 3rd Street

Dr. Ramamoorthy Nagar 3rd Street guideline value

The current guideline value of Dr. Ramamoorthy Nagar 3rd Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village, under the Velacheri SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Dr. Ramamoorthy Nagar 3rd Street has changed

According to the register, there are no figures available for Dr. Ramamoorthy Nagar 3rd Street for the years 2002, 2003, 2007, 2012, 2017, and 2023. The guideline value was last revised in 2024, setting the current rate at Rs 2,750 per sq.ft.

The 2024 revision shows no changes from previous years, as there were no recorded figures for this street in the earlier revisions. Thus, the guideline value remains consistent at Rs 2,750 per sq.ft from the latest revision.

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 guideline value in this area is Rs 2,750 per sq.ft, which is equal to the current value of Dr. Ramamoorthy Nagar 3rd Street.

• Dr. Ramamoorthy Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Dr. Ramamoorthy Nagar 4th Street: Rs 2,750 per sq.ft (2024)
• Dr. Ramamoorthy Nagar 2nd Main Road: Rs 2,750 per sq.ft (2024)
• Dr. Ramamoorthy Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Dr. Ramamoorthy Nagar 1st Main Road: Rs 2,750 per sq.ft (2024)
• Dr. Ramamoorthy Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Ramamoorthy Nagar 3rd Street

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, while the registration fee at 2% would be Rs 55,000, bringing the total fees together to Rs 2,47,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Dr. Ramamoorthy Nagar 3rd Street?

The Sub Registrar Office that covers Dr. Ramamoorthy Nagar 3rd 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 more information.

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

The guideline value is a crucial factor during the registration of property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling properties, the guideline value helps both parties understand the fair valuation of the property. It is essential for buyers and sellers to be aware of the guideline value to facilitate a smooth transaction process.

Frequently asked questions

What is the current guideline value of Dr. Ramamoorthy Nagar 3rd Street?

The current guideline value of Dr. Ramamoorthy Nagar 3rd Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

What land classification does Dr. Ramamoorthy Nagar 3rd Street fall under?

Dr. Ramamoorthy Nagar 3rd Street is classified as Residential Class I Type - III.

How many streets are there in Madipakkam-1 under the Velacheri SRO?

There are 1823 streets in Madipakkam-1 under the Velacheri SRO, each with varying guideline values.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft, which is equal to the current value of Dr. Ramamoorthy Nagar 3rd Street.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.