Guideline Value

Corporate

Guideline Value for Ram Nagar 4th Street

₹3850/sq.ft.

The guideline value for Ram Nagar 4th 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 ₹2345 /sq.ft.
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 4th Street

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Ram Nagar 4th Street guideline value

The current guideline value of Ram Nagar 4th 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 4th Street has changed

The guideline value for Ram Nagar 4th Street has undergone several revisions over the years. The 2017 revision set the rate at Rs 2,345 per sq.ft. This figure increased significantly to Rs 3,500 per sq.ft in the 2023 revision, marking a 49% increase. The most recent revision in 2024 has further raised the guideline value to Rs 3,850 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. The guideline value of Ram Nagar 4th Street is above this median.

Stamp duty and registration fee for property in Ram Nagar 4th 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, 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 and the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ram Nagar 4th Street?

The Sub Registrar Office that covers Ram Nagar 4th 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 is a critical factor when registering property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the registration reflects a fair value of the property.

When you buy or sell property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legal ownership transfer. This ensures that the transaction is documented and recognized by the authorities.

Frequently asked questions

What is the current guideline value of Ram Nagar 4th Street?

The current guideline value of Ram Nagar 4th 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 2,345 per sq.ft in 2017 to Rs 3,500 per sq.ft in 2023, and then to Rs 3,850 per sq.ft in 2024. This reflects an overall increase of 64% from 2017 to 2024.

What is the land classification of Ram Nagar 4th Street?

Ram Nagar 4th Street falls under the Residential Class I Type - I land classification, indicating its suitability for residential purposes.

What are the stamp duty rates for properties in Ram Nagar 4th Street?

The stamp duty for properties in Ram Nagar 4th Street is charged at 7% of the guideline value or sale price, whichever is higher. The registration fee is charged at 2% of the guideline value.

Which office handles the registration of properties in Ram Nagar 4th Street?

The Velacheri Sub Registrar Office handles the registration of properties in Ram Nagar 4th Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.