Guideline Value

Corporate

Guideline Value for Ram Nagar 3rd Street

₹3850/sq.ft.

The guideline value for Ram Nagar 3rd 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 Street

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Ram Nagar 3rd Street guideline value

The current guideline value of Ram Nagar 3rd 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, and it falls under the Residential Class I Type - I land classification.

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

In the 2023 revision, the guideline value for Ram Nagar 3rd Street was Rs 3,500 per sq.ft. This marked an increase of 10% to the current value of Rs 3,850 per sq.ft in the 2024 revision. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

Thus, the only revisions available for this street are from 2023 and 2024. The change from 2023 to 2024 reflects a notable increase in the guideline value.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 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 3rd Street's 2024 figure above that median.

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

For a 1,000 sq.ft plot at the current rate, 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, totaling Rs 3,46,500. The duty is charged on the higher of the guideline value or the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ram Nagar 3rd Street?

The Ram Nagar 3rd Street falls under 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 is a crucial factor in the registration process when buying or selling property in Madipakkam-1. It determines the minimum value on which stamp duty and registration fees are calculated.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, reflecting the official rates set by the government. This process aids in maintaining transparency in property transactions.

Frequently asked questions

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

The current guideline value of Ram Nagar 3rd 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 3rd Street was Rs 3,500 per sq.ft in 2023, which increased by 10% to Rs 3,850 per sq.ft in 2024. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002.

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 3rd Street's 2024 guideline value is above this median.

What are the stamp duty rates for property in Ram Nagar 3rd Street?

The stamp duty for property in Ram Nagar 3rd Street is charged at 7% of the guideline value or the sale price, whichever is higher. The registration fee is charged at 2% of the guideline value.

Where can I find the Sub Registrar Office for Ram Nagar 3rd Street?

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