Guideline Value

Corporate

Guideline Value for Ganesh Nagar/Ramamurthy Nagar

₹2750/sq.ft.

The guideline value for Ganesh Nagar/ramamurthy Nagar in Madipakkam-1 village (Velacheri 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 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 ₹2500 /sq.ft.
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 Ganesh Nagar/ramamurthy Nagar

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Ganesh Nagar/Ramamurthy Nagar guideline value

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

How the guideline value of Ganesh Nagar/Ramamurthy Nagar has changed

There have been several revisions to the guideline value for Ganesh Nagar/Ramamurthy Nagar over the years. The register does not provide figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 2,500 per sq.ft, which was an increase from the previous figures, and the current 2024 revision has raised it further to Rs 2,750 per sq.ft, marking a 10% increase from the 2023 value.

In summary, the guideline value has increased from Rs 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024. This change reflects the updated valuation as per the latest revision.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,750 per sq.ft, which is equal to the current guideline value for Ganesh Nagar/Ramamurthy Nagar.

Stamp duty and registration fee for property in Ganesh Nagar/Ramamurthy 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 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.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Ganesh Nagar/Ramamurthy Nagar?

The Ganesh Nagar/Ramamurthy Nagar area falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process for 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 transaction reflects a fair valuation as per the government standards.

When buying or selling property, the guideline value impacts the calculation of stamp duty and registration fees, which are essential costs that buyers and sellers must consider. This ensures transparency and legality in property transactions.

Frequently asked questions

What is the current guideline value of Ganesh Nagar/Ramamurthy Nagar?

The current guideline value of Ganesh Nagar/Ramamurthy Nagar 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 changed from Rs 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024. There are no figures available for the revisions in the years 2002, 2003, 2007, 2012, and 2017.

What are the other streets in Madipakkam-1 with the same guideline value?

Other streets in Madipakkam-1 that share the same guideline value of Rs 2,750 per sq.ft include Ganesh Nagar Main Road, Ganesh Nagar Cross Street, Ganesh Nagar 9th Street, Ganesh Nagar 8th Street, Ganesh Nagar 7th Street, and Ganesh Nagar 6th Street.

What fees are associated with buying property in Ganesh Nagar/Ramamurthy Nagar?

When buying property in Ganesh Nagar/Ramamurthy Nagar, buyers should be aware of the stamp duty, which is charged at 7% of the guideline value, and the registration fee, which is charged at 2%. These fees are calculated based on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Ganesh Nagar/Ramamurthy Nagar?

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