Guideline Value

Corporate

Guideline Value for Ram Nagar North Extension

₹3850/sq.ft.

The guideline value for Ram Nagar North Extension 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

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Ram Nagar North Extension guideline value

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

How the guideline value of Ram Nagar North Extension has changed

The guideline value for Ram Nagar North Extension 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 Rs 3,500 per sq.ft, which increased by 10% to Rs 3,850 per sq.ft in the 2024 revision.

This increase reflects a significant change in the guideline value within a year. The previous revisions did not provide any figures for this street, making the 2023 and 2024 figures crucial for understanding its current valuation.

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 for this area is Rs 2,750 per sq.ft, placing Ram Nagar North Extension's 2024 figure above this median.

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

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the 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, totaling Rs 3,46,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ram Nagar North Extension?

The Velacheri Sub Registrar Office covers Ram Nagar North Extension. The office is 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 Madipakkam-1

The guideline value plays a crucial role in property transactions in Madipakkam-1. It is used to determine the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is referenced to ascertain the applicable charges. Buyers should be aware that the registration process will consider the guideline value or the sale price, whichever is higher, to calculate the necessary fees.

Frequently asked questions

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

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, reflecting a 10% increase. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Ram Nagar North Extension?

The land classification for Ram Nagar North Extension is Residential Class I Type - I, indicating its intended use for residential purposes.

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

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, a 1,000 sq.ft plot would incur a total of Rs 3,46,500 in fees.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. This office handles registrations for properties in Ram Nagar North Extension.