Guideline Value for Ram Nagar Extension North 10th Street

Ram Nagar Extension North 10th Street guideline value

The current guideline value of Ram Nagar Extension North 10th Street is Rs 3,850 per sq.ft. 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 Extension North 10th Street has changed

The guideline value register for Ram Nagar Extension North 10th Street shows no figures for the years 2002, 2003, 2007, 2012, 2017, and 2023. The most recent revision, effective from 1 July 2024, sets the guideline value at Rs 3,850 per sq.ft.

As there have been no figures listed for the previous revisions, the only current value available is from the 2024 revision. Thus, there are no changes to report between the revisions for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, placing the 2024 guideline value of Ram Nagar Extension North 10th Street above this median.

• Ram Nagar Extension North: Rs 3,850 per sq.ft (2024)
• Ram Nagar Extension North 1st Street: Rs 3,850 per sq.ft (2024)
• Ram Nagar Extension 8th Street: Rs 3,850 per sq.ft (2024)
• Ram Nagar Extension North 2nd Street: Rs 3,850 per sq.ft (2024)
• Ram Nagar Extension 7th Street: Rs 3,850 per sq.ft (2024)
• Ram Nagar Extension North 3rd Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Ram Nagar Extension North 10th 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 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 on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ram Nagar Extension North 10th Street?

The Sub Registrar Office that covers Ram Nagar Extension North 10th 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 further assistance.

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

The guideline value is a critical factor when registering property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When a property is sold or purchased, the guideline value helps ensure that the transaction is recorded accurately, reflecting the official value set by the authorities. This process helps maintain transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Ram Nagar Extension North 10th Street?

The current guideline value of Ram Nagar Extension North 10th Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

What is the land classification for Ram Nagar Extension North 10th Street?

Ram Nagar Extension North 10th Street falls under the Residential Class I Type - I land classification.

How many streets are there in Madipakkam-1 under the Velacheri SRO?

There are 1,823 streets in Madipakkam-1 under the Velacheri SRO that carry a 2024 guideline value.

What is the median guideline value for streets in Madipakkam-1?

The median guideline value for streets in Madipakkam-1 is Rs 2,750 per sq.ft, with Ram Nagar Extension North 10th Street's value being above this median.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. In addition, a registration fee of 2% is also applicable.