Guideline Value

Corporate

Guideline Value for Ram Nagar 1st Cross Street Extn

₹4400/sq.ft.

The guideline value for Ram Nagar 1st Cross Street Extn 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 N/A
From 1-8-2007 To 31-3-2012 ₹1800 /sq.ft.
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 Ram Nagar 1st Cross Street Extn

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Ram Nagar 1st Cross Street Extn guideline value

The current guideline value of Ram Nagar 1st Cross Street Extn is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village under the Velacheri SRO, classified as Residential Class II Type - II.

How the guideline value of Ram Nagar 1st Cross Street Extn has changed

The guideline value for Ram Nagar 1st Cross Street Extn has undergone several revisions over the years. In 2007, the guideline value was Rs 1,800 per sq.ft. This increased to Rs 2,680 per sq.ft in 2017, marking a 49% rise. The value then saw another significant increase to Rs 4,000 per sq.ft in 2023, which was a 49% jump from the previous revision. The most recent revision in 2024 set the guideline value at Rs 4,400 per sq.ft, reflecting a 10% increase from 2023.

It is important to note that there are no figures available for the years 2002, 2003, and 2012 for this street. Overall, from 2007 to 2024, the guideline value has increased by 144%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, which aligns with the current value of Ram Nagar 1st Cross Street Extn.

Stamp duty and registration fee for property in Ram Nagar 1st Cross Street Extn

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000. Together, the total cost for stamp duty and registration would be Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ram Nagar 1st Cross Street Extn?

The Sub Registrar Office that covers Ram Nagar 1st Cross Street Extn 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 Velachery

When buying or selling property in Velachery, the guideline value is a crucial factor in determining the stamp duty and registration fees. This value serves as a benchmark for the minimum price at which properties can be registered, ensuring that the government receives appropriate revenue from property transactions.

The guideline value is used to calculate the stamp duty based on the higher of the guideline value or the actual sale price. This means that if the sale price is lower than the guideline value, the stamp duty will still be calculated based on the guideline value, ensuring that all transactions are appropriately taxed.

Frequently asked questions

What is the current guideline value of Ram Nagar 1st Cross Street Extn?

The current guideline value of Ram Nagar 1st Cross Street Extn is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2007 to Rs 2,680 per sq.ft in 2017, then to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What is the land classification of Ram Nagar 1st Cross Street Extn?

Ram Nagar 1st Cross Street Extn is classified as Residential Class II Type - II.

Where can I find the Velacheri Sub Registrar Office?

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

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is higher, the duty will be charged on that amount.