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Guideline Value

Corporate

Guideline Value for Ram Nagar Extension North 5th Street

₹3850/sq.ft.

The guideline value for Ram Nagar Extension North 5th Street in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. 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 N/A
From 9-6-2017 To 31-3-2023 ₹2345 /sq.ft.
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 North 5th Street

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Ram Nagar Extension North 5th Street guideline value

The current guideline value of Ram Nagar Extension North 5th 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 5th Street has changed

The guideline value for Ram Nagar Extension North 5th Street has undergone several revisions. The 2017 revision set the value at Rs 2,345 per sq.ft. Following this, the 2024 revision increased the value significantly to Rs 3,850 per sq.ft, marking a 64% increase from the previous figure.

There are no figures available for the years 2023, 2012, 2007, 2003, and 2002 for this street in the register. Thus, the only revisions we can consider are from 2017 and 2024.

Guideline values in Madipakkam-1

In Madipakkam-1, there are a total of 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 area is Rs 2,750 per sq.ft, placing Ram Nagar Extension North 5th Street's current value above that median.

Stamp duty and registration fee for property in Ram Nagar Extension North 5th 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, charged at 7%, would be Rs 2,69,500, and the registration fee, charged at 2%, would be Rs 77,000. The combined total for duty and fees would therefore be 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.

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

Which Sub Registrar Office covers Ram Nagar Extension North 5th Street?

The Sub Registrar Office that covers Ram Nagar Extension North 5th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For more information, you can find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, both the buyer and seller must be aware of the guideline value, as it impacts the overall cost of the transaction. It is advisable to consult the latest guideline values to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Ram Nagar Extension North 5th Street?

The current guideline value of Ram Nagar Extension North 5th Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value increased from Rs 2,345 per sq.ft in 2017 to Rs 3,850 per sq.ft in 2024, which is a 64% increase. There are no figures available for the years 2023, 2012, 2007, 2003, and 2002 for this street.

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 for Ram Nagar Extension North 5th Street is above this median.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500, and the registration fee would be Rs 77,000, totaling Rs 3,46,500. The duty is based on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Ram Nagar Extension North 5th Street?

The Sub Registrar Office for Ram Nagar Extension North 5th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.