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Guideline Value

Corporate

Guideline Value for Ram Nagar North Extension 3rd Street

₹3850/sq.ft.

The guideline value for Ram Nagar North Extension 3rd Street 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 North Extension 3rd Street

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Ram Nagar North Extension 3rd Street guideline value

The current guideline value of Ram Nagar North Extension 3rd Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village, under the jurisdiction of the Velacheri SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Ram Nagar North Extension 3rd Street has changed

The guideline value for Ram Nagar North Extension 3rd Street has undergone several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 3,850 per sq.ft, reflecting a 10% increase from the 2023 revision, which was Rs 3,500 per sq.ft. Prior to 2023, the register has no figure for this street for the years 2017, 2012, 2007, 2003, and 2002.

In summary, the guideline value increased from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024. The absence of figures for earlier revisions indicates that the valuation for Ram Nagar North Extension 3rd Street was not established in those years.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for this village stands at Rs 2,750 per sq.ft, placing the 2024 figure for Ram Nagar North Extension 3rd Street above this median.

Stamp duty and registration fee for property in Ram Nagar North Extension 3rd Street

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 to Rs 3,46,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Ram Nagar North Extension 3rd Street?

The Sub Registrar Office that covers Ram Nagar North Extension 3rd Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For more information, you can find your SRO.

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

The guideline value is a critical factor in property transactions within Madipakkam-1. It serves as a benchmark for determining the minimum value of a property for registration purposes, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property in question. It is essential for buyers to be aware of this value to ensure they are not overpaying and for sellers to set realistic expectations regarding the sale price.

Frequently asked questions

What is the current guideline value of Ram Nagar North Extension 3rd Street?

The current guideline value of Ram Nagar North Extension 3rd Street 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 this street was Rs 3,500 per sq.ft in 2023, which increased by 10% to Rs 3,850 per sq.ft in 2024. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft. The guideline value for Ram Nagar North Extension 3rd Street is above this median.

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

For a property valued at Rs 38,50,000, the stamp duty is Rs 2,69,500, and the registration fee is Rs 77,000, totaling Rs 3,46,500. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Ram Nagar North Extension 3rd Street located?

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