Guideline Value

Corporate

Guideline Value for Dr. Ramamoorthy Nagar

₹2750/sq.ft.

The guideline value for Dr. Ramamoorthy Nagar 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 ₹1675 /sq.ft.
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

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Dr. Ramamoorthy Nagar guideline value

The current guideline value of Dr. Ramamoorthy Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class I Type - III.

How the guideline value of Dr. Ramamoorthy Nagar has changed

In the 2017 revision, the guideline value was Rs 1,675 per sq.ft. The most recent revision in 2024 increased this figure to Rs 2,750 per sq.ft, marking a significant change of +64% over the seven-year period. The register has no figure for this street in the years 2023, 2012, 2007, 2003, and 2002.

From 2017 to 2024, the guideline value saw a considerable increase, reflecting the current rate of Rs 2,750 per sq.ft. This figure aligns with the median guideline value of Rs 2,750 per sq.ft for the 1,823 streets in Madipakkam-1 under the Velacheri SRO.

Guideline values in Madipakkam-1

In Madipakkam-1, the guideline values range from Rs 1,650 to Rs 5,500 per sq.ft, with the median being Rs 2,750 per sq.ft. Dr. Ramamoorthy Nagar's current guideline value is equal to this median. The following are the guideline values for other streets in Madipakkam-1:

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

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 together to Rs 2,47,500. Duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Dr. Ramamoorthy Nagar?

The Sub Registrar Office covering Dr. Ramamoorthy Nagar 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 plays a crucial role in property transactions in Madipakkam-1. It serves as the basis for calculating stamp duty and registration fees during the sale or purchase of property, ensuring that both parties adhere to the legal requirements set by the Registration Department.

When a property is registered, the guideline value is used to determine the applicable fees, which can impact the overall cost of the transaction. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations and to accurately assess their financial obligations.

Frequently asked questions

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

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

How much has the guideline value changed over the years?

The guideline value increased from Rs 1,675 per sq.ft in 2017 to Rs 2,750 per sq.ft in 2024, representing a change of +64%. The register has no figure for the years 2023, 2012, 2007, 2003, and 2002.

What are the guideline values for other streets in Madipakkam-1?

Other streets in Madipakkam-1 also have a guideline value of Rs 2,750 per sq.ft as of 2024, which aligns with the median value for the area. These streets include Dr. Ramamoorthy Nagar 1st Main Road, 1st Street, 2nd Main Road, 2nd Street, 3rd Street, and 4th Street.

What fees are associated with buying property in Dr. Ramamoorthy Nagar?

When purchasing property in Dr. Ramamoorthy Nagar, buyers should expect to pay stamp duty at 7% and a registration fee at 2% based on the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a total of Rs 2,47,500 in fees.

Where is the Sub Registrar Office for Dr. Ramamoorthy Nagar located?

The Velacheri Sub Registrar Office, which covers Dr. Ramamoorthy Nagar, is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. This office handles the registration of properties in the area.