Guideline Value

Corporate

Guideline Value for Ram Nagar Extension 4th Street

₹3850/sq.ft.

The guideline value for Ram Nagar Extension 4th 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 Extension 4th Street

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Ram Nagar Extension 4th Street guideline value

The current guideline value of Ram Nagar Extension 4th 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, with a land classification of Residential Class I Type - I.

How the guideline value of Ram Nagar Extension 4th Street has changed

The guideline value for Ram Nagar Extension 4th Street has seen several revisions over the years. The most recent revision in 2024 set the value 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 figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

Prior to the 2023 revision, the last recorded figure was Rs 3,500 per sq.ft in 2023. With the 2024 revision, this street's value is now above the median of Rs 2,750 per sq.ft for the 1,823 streets in Madipakkam-1 under the Velacheri SRO.

Guideline values in Madipakkam-1

In Madipakkam-1, the guideline values range from Rs 1,650 to Rs 5,500 per sq.ft as of 2024. The current guideline value of Rs 3,850 per sq.ft for Ram Nagar Extension 4th Street is above the median value. The following are the guideline values for other streets in Madipakkam-1:

Stamp duty and registration fee for property in Ram Nagar Extension 4th 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 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ram Nagar Extension 4th Street?

The Ram Nagar Extension 4th Street 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 a crucial factor in the registration process when buying or selling property in Madipakkam-1. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is documented accurately.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Ram Nagar Extension 4th Street?

The current guideline value of Ram Nagar Extension 4th 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 Extension 4th Street has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, reflecting a 10% increase. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

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

Other streets in Madipakkam-1 have a guideline value of Rs 3,850 per sq.ft as well, including Ram Nagar Extension 1st, 2nd, 3rd, 5th, 6th, and 7th Streets. This indicates a uniform valuation across these streets for the year 2024.

How is stamp duty calculated for property in Ram Nagar Extension 4th Street?

Stamp duty for property in Ram Nagar Extension 4th Street is calculated at 7% of the guideline value. For example, for a property valued at Rs 38,50,000, the stamp duty would amount to Rs 2,69,500.

Which office handles the registration for properties in Ram Nagar Extension 4th Street?

The registration for properties in Ram Nagar Extension 4th Street is handled by the Velacheri Sub Registrar Office. The office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.