Guideline Value

Corporate

Guideline Value for Ram Nagar 5th Street

₹4400/sq.ft.

The guideline value for Ram Nagar 5th Street in Velachery village (Velacheri SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. The land classification is Residential Class Ii Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class II Type - II
History
Period Guideline Value
From 1-7-2024 ₹4400 /sq.ft.
From 1-4-2023 N/A
From 9-6-2017 To 31-3-2023 N/A
From 1-4-2012 To 8-6-2017 ₹4000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1800 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹561 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹500 /sq.ft.
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 5th Street

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Ram Nagar 5th Street guideline value

The current guideline value of Ram Nagar 5th Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village under the Velacheri SRO, classified as Residential Class II Type - II.

How the guideline value of Ram Nagar 5th Street has changed

The guideline value for Ram Nagar 5th Street has seen several revisions over the years. In 2002, the value was Rs 500 per sq.ft, which increased to Rs 561 per sq.ft in 2003, marking a 12% rise. The value further surged to Rs 1,800 per sq.ft in 2007, representing a significant increase of 221%. By 2012, the guideline value reached Rs 4,000 per sq.ft, an increase of 122% from the previous revision. The most recent revision in 2024 has set the value at Rs 4,400 per sq.ft, reflecting a 10% increase from 2012.

There are no figures available for the revisions in 2017 and 2023 for this street. Overall, from 2002 to 2024, the guideline value has increased by 780%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, which ranges from Rs 3,300 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, which is equal to the guideline value of Ram Nagar 5th Street.

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 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

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 further assistance.

How the guideline value is used when you buy or sell in Velachery

The guideline value is a critical factor in the registration process when buying or selling property in Velachery. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these charges are based on the official value set by the government.

When a property is registered, the guideline value is compared against the sale price. The higher of the two values is used to determine the applicable duties and fees, ensuring compliance with local regulations.

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 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 500 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 780% over the years.

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

Ram Nagar 5th Street is classified as Residential Class II Type - II under the Velacheri SRO.

Where is the Sub Registrar Office located?

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

How is 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 44,00,000, the stamp duty at 7% would be Rs 3,08,000.