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Guideline Value

Corporate

Guideline Value for Ram Nagar North 7th Main Road

₹4400/sq.ft.

The guideline value for Ram Nagar North 7th 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 N/A
From 1-4-2012 To 8-6-2017 ₹4000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1800 /sq.ft.
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 North 7th Main Road

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Ram Nagar North 7th Main Road guideline value

The current guideline value of Ram Nagar North 7th 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 North 7th Main Road has changed

The guideline value for Ram Nagar North 7th Main Road has seen several revisions over the years. The earliest recorded revision is from 2007, where the value was Rs 1,800 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in 2012, marking a change of +122%. The value remained unchanged at Rs 4,000 per sq.ft until the 2023 revision, where it increased to Rs 4,400 per sq.ft, representing a +10% change.

From the 2007 revision to the current 2024 revision, the overall increase in guideline value is +144%. It is important to note that there are no recorded figures for the years 2002, 2003, and 2017 for this street.

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 value is Rs 4,400 per sq.ft, which is equal to the current guideline value of Ram Nagar North 7th Main Road.

Stamp duty and registration fee for property in Ram Nagar North 7th Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total 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, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Ram Nagar North 7th Main Road?

Ram Nagar North 7th Main Road falls under the jurisdiction of the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your specific SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Velachery

The guideline value is a crucial factor in property transactions in Velachery. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, both parties must consider the guideline value to ensure compliance with legal requirements. This value serves as a benchmark for assessing the property’s worth during the registration process.

Frequently asked questions

What is the current guideline value of Ram Nagar North 7th Main Road?

The current guideline value of Ram Nagar North 7th 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 from Rs 1,800 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, showing an overall increase of +144%.

What is the registration office for Ram Nagar North 7th Main Road?

The registration office for Ram Nagar North 7th Main Road is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the guideline value. For example, a 1,000 sq.ft plot would incur a total cost of Rs 3,96,000 in fees.

Are there any years with no recorded guideline values for this street?

Yes, there are no recorded guideline values for Ram Nagar North 7th Main Road in the years 2002, 2003, and 2017.