Guideline Value

Corporate

Guideline Value for Ram Nagar 1st Main Road

₹4400/sq.ft.

The guideline value for Ram Nagar 1st Main Road in Velachery village (Velacheri SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. 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 N/A
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 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 Main Road

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Ram Nagar 1st Main Road guideline value

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

How the guideline value of Ram Nagar 1st Main Road has changed

Over the years, the guideline value of Ram Nagar 1st Main Road has seen several revisions. The 2012 revision set the value at Rs 4,000 per sq.ft, which decreased to Rs 2,680 per sq.ft in the 2017 revision. However, the latest revision in 2024 has significantly increased the guideline value to Rs 4,400 per sq.ft, marking a 64% rise from 2017. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

It is important to note that there are no figures available for the revisions in the years 2002, 2003, 2007, and 2023 for this street. Thus, the only revisions with figures are from 2012, 2017, and 2024.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value. The values range from Rs 3,300 to Rs 13,200 per sq.ft, with the median being Rs 4,400 per sq.ft. The guideline value for Ram Nagar 1st Main Road is equal to this median.

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

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, charged at 7%, would be Rs 3,08,000, while the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ram Nagar 1st Main Road?

The Sub Registrar Office that covers Ram Nagar 1st Main Road is 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 Velachery

The guideline value is a crucial factor in property transactions in Velachery. It is used to determine the minimum value at which a property can be registered. When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, reflecting the official rates set by the government.

During the registration process, buyers must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This process helps maintain transparency and accountability in real estate transactions in the area.

Frequently asked questions

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

The current guideline value of Ram Nagar 1st Main Road 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 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, and then to Rs 4,400 per sq.ft in 2024. This represents a 64% increase from 2017 to 2024 and an overall increase of 10% from 2012 to 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Ram Nagar 1st Main Road located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. This office handles registrations for properties in this area.

How does the guideline value affect property transactions?

The guideline value is used to determine the minimum registration value for properties in Velachery. It ensures that transactions are recorded at a fair value, and stamp duty and registration fees are based on the higher of the guideline value or the sale price.