Guideline Value

Corporate

Guideline Value for Ram Nagar Main Road

₹3850/sq.ft.

The guideline value for Ram Nagar 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 N/A
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 Main Road

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Ram Nagar Main Road guideline value

The current guideline value of Ram Nagar 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, classified as Residential Class I Type - I.

How the guideline value of Ram Nagar Main Road has changed

The guideline value for Ram Nagar Main Road has seen several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 3,500 per sq.ft, which increased by 10% to Rs 3,850 per sq.ft in the 2024 revision.

This increase reflects the changes in the guideline values over the years, with the most recent revision marking a significant adjustment. The 2024 figure is the highest recorded for this street in the available data.

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 guideline value in this area is Rs 2,750 per sq.ft, placing Ram Nagar Main Road's 2024 figure above this median.

Stamp duty and registration fee for property in Ram Nagar 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 fees to Rs 3,46,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ram Nagar Main Road?

The Velacheri Sub Registrar Office covers Ram Nagar Main Road, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process for property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When registering a property, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Ram Nagar Main Road?

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

How has the guideline value changed over the years?

The guideline value for Ram Nagar Main Road was Rs 3,500 per sq.ft in 2023 and increased by 10% to Rs 3,850 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

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

Other streets in Madipakkam-1 have varying guideline values, with rates ranging from Rs 2,750 to Rs 3,850 per sq.ft. This indicates a diversity in property values within the village.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Ram Nagar Main Road is 7% of the guideline value or sale price, whichever is higher. This is applicable during the registration of property transactions.

Where can I find the Sub Registrar Office for Ram Nagar Main Road?

The Velacheri Sub Registrar Office, which covers Ram Nagar Main Road, is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find more information about your SRO online.