Guideline Value for Ram Nagar Extension North 2nd Street

Ram Nagar Extension North 2nd Street guideline value

The current guideline value of Ram Nagar Extension North 2nd Street is Rs 3,850 per sq.ft. This street is located in Madipakkam-1 village, under the jurisdiction of the Velacheri SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Ram Nagar Extension North 2nd Street has changed

The guideline value register for Ram Nagar Extension North 2nd Street has no figures for the years 2002, 2003, 2007, 2012, 2017, and 2023. The current figure is from the 2024 revision, which is set at Rs 3,850 per sq.ft, effective from 1 July 2024.

There have been no changes between the revisions above. The only figure available for this street is from the 2024 revision.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. The guideline value for Ram Nagar Extension North 2nd Street is above this median.

• Ram Nagar Extension North 1st Street: Rs 3,850 per sq.ft (2024)
• Ram Nagar Extension North 3rd Street: Rs 3,850 per sq.ft (2024)
• Ram Nagar Extension North 10th Street: Rs 3,850 per sq.ft (2024)
• Ram Nagar Extension North 4th Street: Rs 3,850 per sq.ft (2024)
• Ram Nagar Extension North: Rs 3,850 per sq.ft (2024)
• Ram Nagar Extension North 5th Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Ram Nagar Extension North 2nd 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, leading to a total cost of Rs 3,46,500. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ram Nagar Extension North 2nd Street?

The Sub Registrar Office covering Ram Nagar Extension North 2nd 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 during property registration in Madipakkam-1. It determines the minimum value at which the property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a reference point for both parties involved in the transaction. It is essential to be aware of the current guideline value to ensure compliance with registration requirements and to avoid any legal issues.

Frequently asked questions

What is the current guideline value of Ram Nagar Extension North 2nd Street?

The current guideline value of Ram Nagar Extension North 2nd Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How often does the guideline value get revised?

The guideline value is revised periodically, with the most recent revision occurring in 2024. There are no figures available for the years 2023, 2017, 2012, 2007, 2003, and 2002 for this street.

What is the land classification for Ram Nagar Extension North 2nd Street?

The land classification for Ram Nagar Extension North 2nd Street is Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Ram Nagar Extension North 2nd Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 at 7%.