Guideline Value

Corporate

Guideline Value for RAMAIYA NAGAR MAIN ROAD

₹2750/sq.ft.

The guideline value for Ramaiya Nagar Main Road in Medavakkam village (Chennai South Joint I 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 Commercial Class I Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Medavakkam

Village

Chennai South Joint I

SRO

Commercial 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 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2500 /sq.ft.
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)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510536
[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 Ramaiya Nagar Main Road

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Ramaiya Nagar Main Road guideline value

The current guideline value of Ramaiya Nagar Main Road is Rs 2,750 per sq.ft, effective from 1 July 2024. This road is located in Medavakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Commercial Class I Type - III.

How the guideline value of Ramaiya Nagar Main Road has changed

The guideline value for Ramaiya Nagar Main Road has seen several revisions over the years. In 2012, the value was set at Rs 2,500 per sq.ft. This figure decreased to Rs 1,675 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, a rise of 49%. The most recent revision in 2024 has set the guideline value at Rs 2,750 per sq.ft, reflecting a 10% increase from the previous year.

The register does not have figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, placing the 2024 figure for Ramaiya Nagar Main Road above that median.

Stamp duty and registration fee for property in Ramaiya Nagar 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, charged at 7%, would be Rs 1,92,500, while the registration fee at 2% would be Rs 55,000, bringing the total cost 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 use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Ramaiya Nagar Main Road?

The Sub Registrar Office that covers Ramaiya Nagar Main Road is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Medavakkam

The guideline value plays a crucial role during the registration of property transactions in Medavakkam. 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 based on this value.

When buying or selling property, the guideline value must be considered alongside the sale price. If the sale price is higher than the guideline value, the stamp duty is calculated on the sale price to ensure compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Ramaiya Nagar Main Road?

The current guideline value of Ramaiya Nagar Main Road 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 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification for Ramaiya Nagar Main Road?

The land classification for Ramaiya Nagar Main Road is Commercial Class I Type - III.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 27,50,000, the stamp duty is Rs 1,92,500 and the registration fee is Rs 55,000, totaling Rs 2,47,500. The duty is charged on the higher of the guideline value or the sale price.

Which office handles property registrations for Ramaiya Nagar Main Road?

The Chennai South Joint I Sub Registrar Office handles property registrations for Ramaiya Nagar Main Road, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.