Guideline Value

Corporate

Guideline Value for Ram Nagar Main Road

₹4400/sq.ft.

The guideline value for Ram Nagar Main Road in Velachery village (Velacheri SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. It was Rs 4000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class II Type - II
History
Period Guideline Value
From 1-7-2024 ₹4400 /sq.ft.
From 1-4-2023 ₹4000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2680 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹4000 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 ₹561 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹500 /sq.ft.
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 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - II.

How the guideline value of Ram Nagar Main Road has changed

The guideline value for Ram Nagar Main Road has experienced several revisions over the years. In 2002, the value was Rs 500 per sq.ft, which saw a significant increase to Rs 561 per sq.ft in 2003. There was another increase of 12% from 2002 to 2003. However, the register has no figure for this street for the year 2007. The value then rose to Rs 4,000 per sq.ft in 2012, which was a decrease of 33% compared to the 2017 revision of Rs 2,680 per sq.ft.

In 2023, the guideline value increased to Rs 4,000 per sq.ft, and the most recent revision in 2024 saw it rise by 10% to Rs 4,400 per sq.ft. Overall, from 2002 to 2024, the guideline value has increased by 780%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, which is the same as the 2024 figure for Ram Nagar Main Road.

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

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. 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 Main Road?

The Sub Registrar Office that covers Ram Nagar Main Road 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 Velachery

The guideline value is used to determine the minimum price at which a property can be registered. This value is crucial during property transactions, as it influences the stamp duty and registration fees that buyers need to pay. It ensures that the transaction is documented at a fair value according to the government’s assessment.

When buying or selling property in Velachery, it is essential to be aware of the guideline value, as it directly affects the financial aspects of the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid complications during registration.

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 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 500 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 780% over the years.

What are the stamp duty and registration fees for properties on Ram Nagar Main Road?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000, and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Where is the Sub Registrar Office for Ram Nagar Main Road?

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

What is the significance of guideline value in property transactions?

The guideline value serves as the minimum price for property registration and affects the stamp duty and registration fees. It ensures that property transactions are recorded at a fair value as assessed by the government.