Guideline Value for Ram Nagar 9th Main Road

Ram Nagar 9th Main Road guideline value

The current guideline value of Ram Nagar 9th Main Road 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 falls under the Residential Class I Type - I land classification.

How the guideline value of Ram Nagar 9th Main Road has changed

The guideline value register has no figure for Ram Nagar 9th Main Road for the years 2002, 2003, 2007, 2012, 2017, and 2023. The current figure for the 2024 revision is Rs 3,850 per sq.ft.

There have been no changes between the revisions above as the register does not provide figures for the earlier years. The only available figure is from the 2024 revision.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO with 2024 figures ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,750 per sq.ft, placing Ram Nagar 9th Main Road's 2024 figure above that median.

• Ram Nagar 8th Street: Rs 3,850 per sq.ft (2024)
• Ram Nagar 9th Street: Rs 3,850 per sq.ft (2024)
• Ram Nagar 8th Main Road: Rs 3,850 per sq.ft (2024)
• Ram Nagar Extension: Rs 3,850 per sq.ft (2024)
• Ram Nagar 8th Cross Street: Rs 3,850 per sq.ft (2024)
• Ram Nagar Extension 1st Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Ram Nagar 9th Main Road

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 fees together to Rs 3,46,500. It is important to note that 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 9th Main Road?

The Ram Nagar 9th Main Road is covered by 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 an essential factor in property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in calculating the applicable charges, which can vary based on the property's sale price. Buyers and sellers must be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Ram Nagar 9th Main Road?

The current guideline value of Ram Nagar 9th Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500, and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

How many streets in Madipakkam-1 have a 2024 guideline value?

There are 1,823 streets in Madipakkam-1 that carry a 2024 guideline value, with figures ranging from Rs 1,650 to Rs 5,500 per sq.ft.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft, which is below the current figure for Ram Nagar 9th Main Road.

Which office handles the registration of properties in Ram Nagar 9th Main Road?

The Velacheri Sub Registrar Office handles the registration of properties in Ram Nagar 9th Main Road, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.