Guideline Value

Corporate

Guideline Value for Ram Nagar 2nd Extn

₹4400/sq.ft.

The guideline value for Ram Nagar 2nd Extn 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 ₹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 2nd Extn

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Ram Nagar 2nd Extn guideline value

The current guideline value of Ram Nagar 2nd 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 2nd Extn has changed

The guideline value for Ram Nagar 2nd Extn has undergone several revisions over the years. In 2007, the value was set at Rs 1,800 per sq.ft. This increased to Rs 4,000 per sq.ft in 2012, marking a significant rise of 122%. However, in 2017, the value dropped to Rs 2,680 per sq.ft, which represented a decrease of 33%. The most recent revision in 2024 saw the guideline value rise again to Rs 4,400 per sq.ft, reflecting a substantial increase of 64% from the 2017 figure.

Overall, from 2007 to 2024, the guideline value has increased by 144%. It is important to note that the register has no figures for the years 2002, 2003, and 2023 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 for these streets is Rs 4,400 per sq.ft, which is the same as the guideline value for Ram Nagar 2nd Extn.

Stamp duty and registration fee for property in Ram Nagar 2nd Extn

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the 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, totaling 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. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ram Nagar 2nd Extn?

The Sub Registrar Office that covers Ram Nagar 2nd 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 details.

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

The guideline value is an important factor when buying or selling property in Velachery. It serves as a reference for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers should be aware of the current guideline value to ensure compliance with the legal requirements.

When a property transaction occurs, the guideline value is used to calculate the applicable fees based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Ram Nagar 2nd Extn?

The current guideline value of Ram Nagar 2nd Extn is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 1,800 per sq.ft to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 144%.

What is the land classification for Ram Nagar 2nd Extn?

Ram Nagar 2nd Extn is classified as Residential Class II Type - II, which indicates its use for residential purposes.

Where can I find the registration office for Ram Nagar 2nd Extn?

The registration office for Ram Nagar 2nd Extn is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in Ram Nagar 2nd Extn?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 at 7%.