Guideline Value

Corporate

Guideline Value for Ram Nagar Extension 7th Street

₹3850/sq.ft.

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

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Ram Nagar Extension 7th Street guideline value

The current guideline value of Ram Nagar Extension 7th Street is Rs 3,850 per sq.ft. This street is located in Madipakkam-1 village, under the Velacheri SRO, and is classified as Residential Class I Type - I.

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

The guideline value for Ram Nagar Extension 7th Street has undergone several revisions. The most recent revision, effective from 1 July 2024, sets the value at Rs 3,850 per sq.ft, an increase of 10% from the previous year’s figure of Rs 3,500 per sq.ft established in 2023. Prior to the 2023 revision, there are no figures available for the years 2017, 2012, 2007, 2003, and 2002 in the register for this street.

In summary, the guideline value has increased from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024. This change reflects the current valuation trends in the area, with the 2024 figure being notably higher than the median guideline value of Rs 2,750 per sq.ft for the 1,823 streets in Madipakkam-1.

Guideline values in Madipakkam-1

In Madipakkam-1, the guideline values for 2024 range from Rs 1,650 to Rs 5,500 per sq.ft. The median value is Rs 2,750 per sq.ft, placing the Ram Nagar Extension 7th Street's current guideline value above this median.

Stamp duty and registration fee for property in Ram Nagar Extension 7th 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 stamp duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

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

The Sub Registrar Office that covers Ram Nagar Extension 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 information.

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

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

Additionally, the guideline value helps maintain transparency in property dealings, providing a benchmark for both buyers and sellers. It is essential to consider this value when planning any real estate transactions in the area.

Frequently asked questions

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

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

How much has the guideline value changed recently?

The guideline value increased from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, reflecting a 10% increase.

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

Ram Nagar Extension 7th Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties here?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would be Rs 3,46,500.

Which office handles property registrations for this street?

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