Guideline Value

Corporate

Guideline Value for Ram Nagar 7th Street

₹4400/sq.ft.

The guideline value for Ram Nagar 7th 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 ₹2680 /sq.ft.
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 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

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Ram Nagar 7th Street guideline value

The current guideline value of Ram Nagar 7th Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Ram Nagar 7th Street has changed

The guideline value for Ram Nagar 7th Street has seen several revisions over the years. In 2007, the value was Rs 1,800 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012, marking a 122% rise. However, from 2012 to 2017, the value decreased by 33% to Rs 2,680 per sq.ft. The most recent revision in 2024 shows a substantial increase to Rs 4,400 per sq.ft, reflecting a 64% rise from the 2017 figure.

It is worth noting that there are no figures available for the years 2023, 2003, and 2002 in the register for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value figure, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value among these streets is Rs 4,400 per sq.ft, which is the same as the guideline value for Ram Nagar 7th Street.

Stamp duty and registration fee for property in Ram Nagar 7th 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 cost to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and 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?

The Sub Registrar Office that covers Ram Nagar 7th 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 details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during transactions.

Moreover, the guideline value affects the calculation of stamp duty and registration fees, which are essential costs involved in property transactions. Understanding the guideline value helps in budgeting for these expenses accurately.

Frequently asked questions

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

The current guideline value of Ram Nagar 7th 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 changed from Rs 1,800 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, showing an overall increase of 144% over the years.

What are the stamp duty and registration fees for property in Ram Nagar 7th Street?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000, and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles registrations for Ram Nagar 7th Street?

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

How is the guideline value determined in Velachery?

The guideline value in Velachery is determined by the Registration Department and varies across different streets. It reflects the minimum value for property registration and is revised periodically based on market conditions.