Guideline Value for Ram Nagar Extension North

Ram Nagar Extension North guideline value

The current guideline value of Ram Nagar Extension North is Rs 3,850 per sq.ft, effective from 1 July 2024. This area is part of 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 has changed

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

As there have been no changes between the revisions, the current figure remains the only one available for this street, reflecting the established guideline value as of 1 July 2024.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value is Rs 2,750 per sq.ft, placing Ram Nagar Extension North's 2024 figure above this median.

• Ram Nagar Extension 8th Street: Rs 3,850 per sq.ft (2024)
• Ram Nagar Extension North 10th Street: Rs 3,850 per sq.ft (2024)
• Ram Nagar Extension 7th Street: Rs 3,850 per sq.ft (2024)
• Ram Nagar Extension North 1st Street: Rs 3,850 per sq.ft (2024)
• Ram Nagar Extension 6th Street: Rs 3,850 per sq.ft (2024)
• Ram Nagar Extension North 2nd Street: Rs 3,850 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the 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 to Rs 3,46,500. 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?

The Sub Registrar Office that covers Ram Nagar Extension North 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 is used to determine the stamp duty and registration fees that need to be paid when purchasing or selling property in the area.

When a property is bought or sold, the guideline value ensures that the transaction is recorded at a standardized rate, which helps in maintaining transparency in property transactions. Buyers and sellers should be aware of this value to understand the financial implications of their property dealings.

Frequently asked questions

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

The current guideline value of Ram Nagar Extension North 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 shows no figures for the years 2002, 2003, 2007, 2012, 2017, and 2023. The only recorded figure is from the 2024 revision.

What is the classification of land in Ram Nagar Extension North?

Ram Nagar Extension North is classified as Residential Class I Type - I, indicating its suitability for residential development.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft, with Ram Nagar Extension North's 2024 figure being above this median.

Where can I find more information about stamp duty and registration fees?

For detailed calculations and information regarding stamp duty and registration fees, you can use the stamp duty and registration fee calculator.