Guideline Value

Corporate

Guideline Value for Ram Nagar Extension North Main Road

₹3850/sq.ft.

The guideline value for Ram Nagar Extension North Main Road 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 ₹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 Main Road

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Ram Nagar Extension North Main Road guideline value

The current guideline value for Ram Nagar Extension North Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024. This road 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 North Main Road has changed

Looking at the revisions, the guideline value for Ram Nagar Extension North Main Road has seen significant changes over the years. The 2017 revision set the value at Rs 2,345 per sq.ft. In 2023, this increased to Rs 3,500 per sq.ft, marking a 49% rise. The current 2024 revision further raises the value to Rs 3,850 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO with 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 figure for Ram Nagar Extension North Main Road above this median.

Stamp duty and registration fee for property in Ram Nagar Extension North Main Road

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, bringing the total charges to Rs 3,46,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ram Nagar Extension North Main Road?

The Ram Nagar Extension North Main Road falls under 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

When buying or selling property in Madipakkam-1, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value serves as a benchmark for the minimum price at which a property can be registered, ensuring that the transaction is recorded at a fair value.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial obligations during the registration process. Understanding this value helps in making informed decisions when engaging in property transactions.

Frequently asked questions

What is the current guideline value for Ram Nagar Extension North Main Road?

The current guideline value for Ram Nagar Extension North Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed from 2017 to 2024?

From the 2017 revision to the 2024 revision, the guideline value has increased by 64%, moving from Rs 2,345 per sq.ft to Rs 3,850 per sq.ft.

What are the other streets in Madipakkam-1 with their guideline values?

Other streets in Madipakkam-1 include Ram Nagar Extension North 9th Street, Ram Nagar Extension South 7th Street, Ram Nagar Extension North 7th Street, Ram Nagar Extension North 6th Street, Ram Nagar Extn 1st Street, and Ram Nagar Extension North 5th Street, with values ranging from Rs 2,750 to Rs 3,850 per sq.ft.

What is the registration office for Ram Nagar Extension North Main Road?

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

How is the stamp duty calculated for property transactions?

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