Guideline Value

Corporate

Guideline Value for K.R. Ramasamy Nagar

₹4400/sq.ft.

The guideline value for K.r. Ramasamy Nagar in Velachery village (Velacheri SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. It was Rs 4000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class II Type - II
History
Period Guideline Value
From 1-7-2024 ₹4400 /sq.ft.
From 1-4-2023 ₹4000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2680 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹4000 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 ₹194 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹173 /sq.ft.
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 K.r. Ramasamy Nagar

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K.R. Ramasamy Nagar guideline value

The current guideline value of K.R. Ramasamy Nagar is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is located in Velachery village and falls under the Velacheri SRO. The land classification for this street is Residential Class II Type - II.

How the guideline value of K.R. Ramasamy Nagar has changed

The guideline value for K.R. Ramasamy Nagar has seen significant changes over the years. In 2002, the value was Rs 173 per sq.ft, which increased to Rs 194 per sq.ft in 2003. The register has no figure for this street in 2007. In 2012, the value rose to Rs 4,000 per sq.ft, but it then decreased to Rs 2,680 per sq.ft in 2017. The value climbed to Rs 4,000 per sq.ft again in 2023, and currently stands at Rs 4,400 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. The most notable change occurred between 2003 and 2012, where the value surged by 1962%. Overall, from 2002 to 2024, the guideline value has increased by 2443%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, which is equal to the current value of K.R. Ramasamy Nagar.

Stamp duty and registration fee for property in K.R. Ramasamy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, making the total cost Rs 3,96,000. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers K.R. Ramasamy Nagar?

K.R. Ramasamy Nagar is covered by 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 Velachery

The guideline value is a crucial factor when buying or selling property in Velachery. It serves as a benchmark for calculating the stamp duty and registration fees, which are mandatory during property transactions. Buyers must ensure that the sale price is equal to or higher than the guideline value to avoid any legal complications.

When engaging in property transactions, it is essential to refer to the guideline value to determine the appropriate fees and ensure compliance with local regulations. This helps in streamlining the registration process and safeguarding the interests of both buyers and sellers.

Frequently asked questions

What is the current guideline value of K.R. Ramasamy Nagar?

The current guideline value of K.R. Ramasamy Nagar is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has fluctuated significantly, from Rs 173 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 2443%.

What is the registration office for K.R. Ramasamy Nagar?

The registration office for K.R. Ramasamy Nagar is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated in K.R. Ramasamy Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty would be Rs 3,08,000.

What are the other streets with the same guideline value in Velachery?

Other streets in Velachery with the same guideline value of Rs 4,400 per sq.ft include K.R.Ramasamy Street, Kubera Nagar, Kubera Nagar Extn, Kubera Nagar North, Kubera Nagar North Extn, and Krishnaraj Nagar Extn 3rd Street.