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Guideline Value

Corporate

Guideline Value for Ram Nagar South 14th Main Road

₹2750/sq.ft.

The guideline value for Ram Nagar South 14th Main Road in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 2750 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madipakkam-1

Village

Velacheri

SRO

Residential Class I Type - III
History
Period Guideline Value
From 1-7-2024 ₹2750 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
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 South 14th Main Road

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Ram Nagar South 14th Main Road guideline value

The current guideline value of Ram Nagar South 14th Main Road is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class I Type - III.

How the guideline value of Ram Nagar South 14th Main Road has changed

The guideline value for Ram Nagar South 14th Main Road has seen several revisions over the years. In 2017, the guideline value was Rs 1,675 per sq.ft, which increased to Rs 2,500 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 2,750 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%, and overall, from 2017 to 2024, it has risen by 64%. The register does not provide figures for the years 2002, 2003, 2007, and 2012 for this street.

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 these streets is Rs 2,750 per sq.ft, which is equal to the current value of Ram Nagar South 14th Main Road.

Stamp duty and registration fee for property in Ram Nagar South 14th Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ram Nagar South 14th Main Road?

The Sub Registrar Office that covers Ram Nagar South 14th 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 Madipakkam-1

The guideline value is a critical factor during the registration of property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of property registration.

When buying or selling property, the guideline value helps ensure that the transaction is documented at a value recognized by the authorities. This value is crucial for both buyers and sellers to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Ram Nagar South 14th Main Road?

The current guideline value of Ram Nagar South 14th Main Road is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,675 per sq.ft in 2017 to Rs 2,750 per sq.ft in 2024, reflecting a total increase of 64% over this period.

What is the land classification of Ram Nagar South 14th Main Road?

Ram Nagar South 14th Main Road is classified as Residential Class I Type - III.

What are the stamp duty and registration fees for a property here?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500, and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles registrations for this area?

The Velacheri Sub Registrar Office handles registrations for Ram Nagar South 14th Main Road, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.