Guideline Value

Corporate

Guideline Value for Ram Nagar North Extn Main Road

₹4400/sq.ft.

The guideline value for Ram Nagar North Extn 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 Extn Main Road

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Ram Nagar North Extn Main Road guideline value

The current guideline value of Ram Nagar North Extn Main Road is Rs 4,400 per sq.ft, effective from 1 July 2024. This road is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Ram Nagar North Extn Main Road has changed

Over the years, the guideline value of Ram Nagar North Extn Main Road has seen several revisions. The 2007 revision recorded a value of Rs 1,800 per sq.ft, which increased to Rs 4,000 per sq.ft in both the 2012 and 2023 revisions. The most recent revision in 2024 has raised the guideline value to Rs 4,400 per sq.ft, marking a 10% increase from the previous year.

From the 2007 revision to the 2012 revision, there was a significant increase of 122%. However, there was no change from 2012 to 2023. Overall, from 2007 to 2024, the guideline value has increased by 144%. It is important to note that the register has no 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 for these streets is Rs 4,400 per sq.ft, which is equal to the current guideline value for Ram Nagar North Extn Main Road.

Stamp duty and registration fee for property in Ram Nagar North Extn 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 guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ram Nagar North Extn Main Road?

The Sub Registrar Office that covers Ram Nagar North Extn 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 a crucial factor when buying or selling property in Velachery. It serves as a benchmark for determining the minimum value of the property for registration purposes. This value is used to calculate the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the sale price cannot be lower than the guideline value. This ensures that the government receives adequate revenue from property transactions. Buyers and sellers should always refer to the latest guideline value to understand their financial obligations during the registration process.

Frequently asked questions

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

The current guideline value of Ram Nagar North Extn 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, reflecting an overall increase of 144% over the years.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Ram Nagar North Extn Main Road is 7% of the guideline value or the sale price, whichever is higher.

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.

What is the land classification for Ram Nagar North Extn Main Road?

The land classification for Ram Nagar North Extn Main Road is Residential Class II Type - II.