Guideline Value for Ram Nagar Extension North 1st Street

Ram Nagar Extension North 1st Street guideline value

The current guideline value of Ram Nagar Extension North 1st 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, and it falls under the Residential Class I Type - I land classification.

How the guideline value of Ram Nagar Extension North 1st Street has changed

The guideline value register has no figures for Ram Nagar Extension North 1st Street for the years 2002, 2003, 2007, 2012, 2017, and 2023. The only revision available is from 2024, which is Rs 3,850 per sq.ft.

Since there are no changes between the revisions, the current guideline value remains consistent at Rs 3,850 per sq.ft as per the 2024 revision.

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 guideline value in this village is Rs 2,750 per sq.ft, making the guideline value of Ram Nagar Extension North 1st Street above the median.

• Ram Nagar Extension North 10th Street: Rs 3,850 per sq.ft (2024)
• Ram Nagar Extension North 2nd Street: Rs 3,850 per sq.ft (2024)
• Ram Nagar Extension North: Rs 3,850 per sq.ft (2024)
• Ram Nagar Extension North 3rd Street: Rs 3,850 per sq.ft (2024)
• Ram Nagar Extension 8th Street: Rs 3,850 per sq.ft (2024)
• Ram Nagar Extension North 4th Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Ram Nagar Extension North 1st Street

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, totaling 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 also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Ram Nagar Extension North 1st Street?

The Sub Registrar Office that covers Ram Nagar Extension North 1st Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering a property in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency and accountability within the real estate market.

Frequently asked questions

What is the current guideline value of Ram Nagar Extension North 1st Street?

The current guideline value of Ram Nagar Extension North 1st 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 register has no figures for the years 2002, 2003, 2007, 2012, 2017, and 2023. The only available figure is from the 2024 revision, which is Rs 3,850 per sq.ft.

What is the land classification of Ram Nagar Extension North 1st Street?

Ram Nagar Extension North 1st Street falls under the Residential Class I Type - I land classification.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft. The guideline value of Ram Nagar Extension North 1st Street is above this median.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.