Guideline Value

Corporate

Guideline Value for Ram Nagar 3rd Cross Street

₹3850/sq.ft.

The guideline value for Ram Nagar 3rd Cross 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 3rd Cross Street

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Ram Nagar 3rd Cross Street guideline value

The current guideline value of Ram Nagar 3rd Cross 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, classified as Residential Class I Type - I.

How the guideline value of Ram Nagar 3rd Cross Street has changed

The guideline value for Ram Nagar 3rd Cross Street has undergone several revisions. The register does not provide figures for the years 2002, 2003, 2007, 2012, and 2017. The most recent revisions show that in 2023, the guideline value was Rs 3,500 per sq.ft, which increased to Rs 3,850 per sq.ft in 2024, marking a change of +10%.

Prior to the 2023 revision, there were no recorded figures for the street in the years mentioned. The current value of Rs 3,850 per sq.ft is reflective of the latest assessment as of July 2024.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for the village is Rs 2,750 per sq.ft, placing Ram Nagar 3rd Cross Street's 2024 figure above this median.

Stamp duty and registration fee for property in Ram Nagar 3rd Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the 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, bringing the total to 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 for more detailed calculations.

Which Sub Registrar Office covers Ram Nagar 3rd Cross Street?

The Velacheri Sub Registrar Office covers Ram Nagar 3rd Cross Street. The office is 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 is a critical factor when registering property transactions in Madipakkam-1. It is used to determine the stamp duty and registration fees that must be paid during the transfer of property ownership.

When buyers and sellers engage in a transaction, the guideline value ensures that the registration process is standardized and transparent. It serves as a reference point for both parties to understand the value of the property being sold or purchased.

Frequently asked questions

What is the current guideline value of Ram Nagar 3rd Cross Street?

The current guideline value of Ram Nagar 3rd Cross 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 has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, representing a +10% increase. 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. The guideline value for Ram Nagar 3rd Cross Street is above this median.

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

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500. The duty is charged on the higher of the guideline value or the sale price.

Where is the Velacheri Sub Registrar Office 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 Ram Nagar 3rd Cross Street.