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Guideline Value

Corporate

Guideline Value for Ram Nagar North 6th Street

₹4400/sq.ft.

The guideline value for Ram Nagar North 6th Street 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 N/A
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 ₹1800 /sq.ft.
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 North 6th Street

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Ram Nagar North 6th Street guideline value

The current guideline value of Ram Nagar North 6th Street 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 North 6th Street has changed

The guideline value for Ram Nagar North 6th Street has undergone several revisions over the years. Starting from Rs 500 per sq.ft in 2002, it increased to Rs 561 per sq.ft in 2003, marking a 12% rise. By 2007, the value further surged to Rs 1,800 per sq.ft, reflecting a significant increase of 221% from the previous revision. However, there are no figures available for the years 2012 and 2017.

From 2007 to 2023, the guideline value rose dramatically to Rs 4,000 per sq.ft, a 122% increase. The most recent revision in 2024 set the value at Rs 4,400 per sq.ft, which is a 10% increase from the 2023 figure. 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 equal to the current value of Ram Nagar North 6th Street.

Stamp duty and registration fee for property in Ram Nagar North 6th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, leading to a total of Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ram Nagar North 6th Street?

The Sub Registrar Office that covers Ram Nagar North 6th Street 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 plays a crucial role in the registration of property transactions in Velachery. It is used to determine the stamp duty and registration fees applicable when a property is bought or sold. Buyers and sellers must ensure that the transaction aligns with the guideline value to comply with regulatory requirements.

When registering a property, the guideline value is referenced to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property in the area.

Frequently asked questions

What is the current guideline value of Ram Nagar North 6th Street?

The current guideline value of Ram Nagar North 6th Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 500 per sq.ft to Rs 4,400 per sq.ft in 2024, representing an overall increase of 780%.

What are the stamp duty and registration fees for properties in this area?

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.

Which office handles property registrations for Ram Nagar North 6th Street?

The Velacheri Sub Registrar Office handles property registrations for Ram Nagar North 6th Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the guideline value determined for properties in Velachery?

The guideline value is determined based on various factors and is revised periodically by the Registration Department. It reflects the market conditions and property values in the area.