Guideline Value

Corporate

Guideline Value for Ram Nagar 7th Cross Street

₹3850/sq.ft.

The guideline value for Ram Nagar 7th 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 7th Cross Street

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Ram Nagar 7th Cross Street guideline value

The current guideline value of Ram Nagar 7th 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 7th Cross Street has changed

As per the guideline value register, there are no figures available for Ram Nagar 7th Cross Street for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 3,500 per sq.ft, which was an increase from the previous years. The most recent 2024 revision has increased the guideline value to Rs 3,850 per sq.ft, reflecting a 10% rise from the 2023 figure.

This increase indicates a notable adjustment in the valuation of properties on this street. The current guideline value is now above the median value of Rs 2,750 per sq.ft for other streets in Madipakkam-1 under the Velacheri SRO.

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 guideline value for Ram Nagar 7th Cross Street is above the median of Rs 2,750 per sq.ft. Below are the guideline values for other streets in Madipakkam-1:

Stamp duty and registration fee for property in Ram Nagar 7th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to 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 and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ram Nagar 7th Cross Street?

The Sub Registrar Office that covers Ram Nagar 7th Cross 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 during property transactions in Madipakkam-1, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of ownership. It is essential for both parties to be aware of these values to facilitate a smooth transaction.

Frequently asked questions

What is the current guideline value of Ram Nagar 7th Cross Street?

The current guideline value of Ram Nagar 7th 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 for Ram Nagar 7th Cross Street 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 figures available for the years 2002, 2003, 2007, 2012, and 2017.

What are the guideline values for other streets in Madipakkam-1?

Other streets in Madipakkam-1 have guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value is Rs 2,750 per sq.ft, and Ram Nagar 7th Cross Street's value is above this median.

What are the fees associated with buying property in Ram Nagar 7th Cross Street?

The fees associated with buying property include stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher. For example, for a property valued at Rs 38,50,000, the total fees would be Rs 3,46,500.

Which office handles the registration for Ram Nagar 7th Cross Street?

The Velacheri Sub Registrar Office handles the registration for Ram Nagar 7th Cross Street. It is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.