Guideline Value

Corporate

Guideline Value for Ram Nagar 2nd Street

₹3850/sq.ft.

The guideline value for Ram Nagar 2nd Street in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madipakkam-1

Village

Velacheri

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹3850 /sq.ft.
From 1-4-2023 ₹3500 /sq.ft.
From 9-6-2017 To 31-3-2023 N/A
From 1-4-2012 To 8-6-2017 N/A
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 2nd Street

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Ram Nagar 2nd Street guideline value

The current guideline value of Ram Nagar 2nd Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, with a land classification of Residential Class I Type - I.

How the guideline value of Ram Nagar 2nd Street has changed

The guideline value for Ram Nagar 2nd Street has undergone several revisions over the years. The register does not contain figures for the years 2002, 2003, 2007, 2012, and 2017. The most recent figures show that in 2023, the guideline value was Rs 3,500 per sq.ft, which increased by 10% to Rs 3,850 per sq.ft in the 2024 revision.

Prior to the 2023 revision, there were no recorded figures for this street in the earlier years mentioned. The increase from Rs 3,500 to Rs 3,850 reflects the latest adjustments made in the guideline value register.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,750 per sq.ft, placing Ram Nagar 2nd Street's 2024 figure above the median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, resulting in a total of Rs 3,46,500. 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 to estimate your costs.

Which Sub Registrar Office covers Ram Nagar 2nd Street?

The Sub Registrar Office that covers Ram Nagar 2nd Street 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 Madipakkam-1

The guideline value plays a crucial role during property registration in Madipakkam-1. It is used to determine the applicable stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When buying or selling property, it is essential to be aware of the current guideline value, as it directly impacts the financial obligations during the registration process. Understanding these values can help in making informed decisions during property transactions.

Frequently asked questions

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

The current guideline value of Ram Nagar 2nd Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Ram Nagar 2nd Street was Rs 3,500 per sq.ft in 2023, which increased to Rs 3,850 per sq.ft in 2024. There are no recorded figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft. Ram Nagar 2nd Street's current guideline value is above this median.

What are the stamp duty and registration fees for property in Ram Nagar 2nd Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, totaling Rs 3,46,500.

Where is the Sub Registrar Office for Ram Nagar 2nd Street located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042, and it covers Ram Nagar 2nd Street.