Guideline Value

Corporate

Guideline Value for Ram Nagar 7th Street Extn

₹3850/sq.ft.

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

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Ram Nagar 7th Street Extn guideline value

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

The guideline value for Ram Nagar 7th Street Extn has seen several revisions over the years. The most recent revision in 2024 set the rate at Rs 3,850 per sq.ft, which is a 10% increase from the 2023 revision of Rs 3,500 per sq.ft. The register has no figure for this street for the years 2017, 2012, 2007, 2003, and 2002.

Prior to the 2023 revision, the guideline value for Ram Nagar 7th Street Extn was not recorded in the register for the aforementioned years. The first available figure is from 2023, which indicates a notable increase in the guideline value from the previous year.

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 for Ram Nagar 7th Street Extn is above this median.

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

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 cost for these fees to 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.

For more information, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers Ram Nagar 7th Street Extn is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find more details by visiting the find your SRO page.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor in property transactions as it determines the minimum value at which a property can be registered. When buying or selling property in Madipakkam-1, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is legally recognized.

It is essential for buyers and sellers to be aware of the current guideline value, as it impacts the overall cost of property transactions. Understanding the guideline value can help in making informed decisions during the buying or selling process.

Frequently asked questions

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

The current guideline value of Ram Nagar 7th Street Extn is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

Recently, the guideline value increased by 10% from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024.

What is the land classification for Ram Nagar 7th Street Extn?

Ram Nagar 7th Street Extn falls under the Residential Class I Type - I land classification.

Where can I find the Sub Registrar Office for this area?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 3,46,500.