Guideline Value

Corporate

Guideline Value for Ram Nagar North Extn

₹4400/sq.ft.

The guideline value for Ram Nagar North Extn 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

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Ram Nagar North Extn guideline value

The current guideline value of Ram Nagar North Extn, Velachery village, is Rs 4,400 per sq.ft, effective from 1 July 2024. This area falls under the Velacheri SRO and is classified as Residential Class II Type - II.

How the guideline value of Ram Nagar North Extn has changed

Over the years, the guideline value of Ram Nagar North Extn has seen significant changes. The earliest recorded revision was in 2007, with a guideline value of Rs 1,800 per sq.ft. This figure increased to Rs 4,000 per sq.ft in 2012, marking a substantial rise of 122%. The value remained unchanged at Rs 4,000 per sq.ft until the 2023 revision, which increased it to Rs 4,400 per sq.ft, reflecting a 10% increase.

From 2007 to 2024, the guideline value has increased by 144%, reaching the current rate of Rs 4,400 per sq.ft. It is important to note that there are no recorded figures for this street in the revisions of 2002, 2003, and 2017.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with 2024 guideline values 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 the same as the current value for Ram Nagar North Extn.

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

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 also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ram Nagar North Extn?

The Sub Registrar Office that covers Ram Nagar North Extn 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 the minimum value for property transactions and is used to calculate the stamp duty and registration fees applicable during the registration process.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

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

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

How much has the guideline value changed over the years?

The guideline value has increased from Rs 1,800 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, representing an overall increase of 144%.

What is the land classification for Ram Nagar North Extn?

Ram Nagar North Extn is classified as Residential Class II Type - II.

Where can I find the Velacheri Sub Registrar Office?

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

How is stamp duty calculated in Ram Nagar North Extn?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a plot valued at Rs 44,00,000 would incur a stamp duty of Rs 3,08,000 at 7%.