Guideline Value for Ram Nagar 5th Street

Ram Nagar 5th Street guideline value

The current guideline value of Ram Nagar 5th 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 5th Street has changed

The guideline value for Ram Nagar 5th Street has undergone significant changes over the years. In the 2017 revision, the value was Rs 2,345 per sq.ft. This figure increased to Rs 3,850 per sq.ft in the 2024 revision, marking a change of +64% from the previous value.

There are no figures available for the years 2023, 2012, 2007, 2003, and 2002 in the register for this street. The only recorded figures are from the 2017 and 2024 revisions, highlighting the substantial increase in the guideline value.

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. Ram Nagar 5th Street's 2024 guideline value is above this median.

• Ram Nagar 5th Main Road: Rs 3,850 per sq.ft (2024)
• Ram Nagar 5th Street, (Ram Nagar 26th Main Road): Rs 3,850 per sq.ft (2024)
• Ram Nagar 5th Cross Street: Rs 3,850 per sq.ft (2024)
• Ram Nagar 6th Cross Street: Rs 3,850 per sq.ft (2024)
• Ram Nagar 6th Main Road: Rs 3,850 per sq.ft (2024)
• Ram Nagar 4th Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Ram Nagar 5th 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, totaling 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 5th Street?

The Sub Registrar Office that covers Ram Nagar 5th 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 crucial factor when registering property transactions in Madipakkam-1. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are accurately assessed based on the property's value.

When buying or selling property, the guideline value helps determine the minimum price at which the property can be registered. This ensures transparency in property transactions and aids in the collection of appropriate taxes by the government.

Frequently asked questions

What is the current guideline value of Ram Nagar 5th Street?

The current guideline value of Ram Nagar 5th Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value increased from Rs 2,345 per sq.ft in 2017 to Rs 3,850 per sq.ft in 2024, which is a change of +64%.

What is the land classification for Ram Nagar 5th Street?

Ram Nagar 5th Street falls under the Residential Class I Type - I land classification.

Where can I find the Sub Registrar Office for Ram Nagar 5th Street?

The Velacheri Sub Registrar Office covers Ram Nagar 5th Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in Ram Nagar 5th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 38,50,000, the stamp duty at 7% would be Rs 2,69,500.