Guideline Value

Corporate

Guideline Value for Ram Nagar 1st Extn

₹4400/sq.ft.

The guideline value for Ram Nagar 1st 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 ₹4000 /sq.ft.
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]

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Ram Nagar 1st Extn guideline value

The current guideline value of Ram Nagar 1st Extn 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 Ram Nagar 1st Extn has changed

The guideline value for Ram Nagar 1st Extn has seen several revisions over the years. In 2007, the value was Rs 1,800 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012, marking a rise of 122%. However, in 2017, the value decreased to Rs 2,680 per sq.ft, reflecting a decline of 33%. The value then rose again to Rs 4,000 per sq.ft in 2023, and most recently, it has increased to Rs 4,400 per sq.ft in 2024, which is a 10% increase from the previous year.

From 2017 to 2023, the increase was substantial at 49%. Overall, from 2007 to 2024, the guideline value has increased by 144%. The register does not contain figures for the years 2002 and 2003 for this street.

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 value is Rs 4,400 per sq.ft, which is the same as the current value for Ram Nagar 1st Extn.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total cost to 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 also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Ram Nagar 1st Extn?

The Sub Registrar Office that covers Ram Nagar 1st 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

The guideline value is a critical factor during the registration of property transactions in Velachery. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When a buyer decides to purchase a property, the guideline value helps in assessing the official value of the property, ensuring that the transaction is recorded accurately in the government registers. This ensures transparency and compliance with the legal requirements for property transactions.

Frequently asked questions

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

The current guideline value of Ram Nagar 1st 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 undergone several changes, increasing from Rs 1,800 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 144% over the years.

What are the stamp duty and registration fees for property in Ram Nagar 1st Extn?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 44,00,000, the total fees would amount to Rs 3,96,000.

Which office handles property registrations for Ram Nagar 1st Extn?

The Velacheri Sub Registrar Office handles property registrations for Ram Nagar 1st Extn, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Ram Nagar 1st Extn?

The land classification for Ram Nagar 1st Extn is Residential Class II Type - II, indicating its designation for residential use.