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Guideline Value

Corporate

Guideline Value for Ram Nagar South 14th Street

₹2750/sq.ft.

The guideline value for Ram Nagar South 14th Street 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 Street

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Ram Nagar South 14th Street guideline value

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

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

The guideline value for Ram Nagar South 14th Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,750 per sq.ft, an increase of 10% from the 2023 revision of Rs 2,500 per sq.ft. Prior to that, in 2017, the value was Rs 1,675 per sq.ft, marking a significant increase of 49% over the six-year period leading up to 2023. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Overall, from the 2017 revision to the current 2024 revision, the guideline value has increased by 64%. This reflects a steady rise in the valuation of properties on this street over the years.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, which is equal to the current guideline value for Ram Nagar South 14th Street.

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

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, bringing the total fees together to 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.

For more details on fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ram Nagar South 14th Street?

The Sub Registrar Office that covers Ram Nagar South 14th Street 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

When buying or selling property in Madipakkam-1, the guideline value is a crucial factor in determining the registration fees and stamp duty. The guideline value serves as a benchmark for the valuation of properties and is used by the registration department to calculate the applicable fees during the registration process.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial obligations associated with property transactions. Ensuring that the property is registered at the correct guideline value helps in avoiding any legal complications in the future.

Frequently asked questions

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

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

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 1,675 per sq.ft to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 64% over this period.

What are the stamp duty and registration fees for property in Ram Nagar South 14th Street?

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 Sub Registrar Office covers this area?

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

What is the land classification for Ram Nagar South 14th Street?

Ram Nagar South 14th Street is classified as Residential Class I Type - III under the current guidelines.