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Guideline Value

Corporate

Guideline Value for Ram Nagar South 1st Cross Street

₹2750/sq.ft.

The guideline value for Ram Nagar South 1st Cross 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 1st Cross Street

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Ram Nagar South 1st Cross Street guideline value

The current guideline value of Ram Nagar South 1st Cross 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, classified as Residential Class I Type - III.

How the guideline value of Ram Nagar South 1st Cross Street has changed

In the 2017 revision, the guideline value was Rs 1,675 per sq.ft. This value increased to Rs 2,500 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 has set the guideline value at Rs 2,750 per sq.ft, reflecting a 10% increase from the previous year.

The overall change from the 2017 revision to the 2024 revision is an increase of 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are a total of 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 figure for Ram Nagar South 1st Cross Street.

Stamp duty and registration fee for property in Ram Nagar South 1st Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the 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 to Rs 2,47,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher.

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

Which Sub Registrar Office covers Ram Nagar South 1st Cross Street?

The Sub Registrar Office that covers Ram Nagar South 1st Cross 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

The guideline value is a crucial factor in property transactions in Madipakkam-1, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, it is essential to ensure that the sale price is in line with the guideline value to avoid any legal complications. This ensures transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Ram Nagar South 1st Cross Street?

The current guideline value of Ram Nagar South 1st Cross Street 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 seen significant changes, increasing from Rs 1,675 per sq.ft in 2017 to Rs 2,750 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What is the land classification for Ram Nagar South 1st Cross Street?

Ram Nagar South 1st Cross Street is classified as Residential Class I Type - III. This classification is important for determining the guideline value and property taxes.

Where can I find the Sub Registrar Office for this area?

The Velacheri Sub Registrar Office covers Ram Nagar South 1st Cross Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 27,50,000 would incur a stamp duty of Rs 1,92,500 at a rate of 7%.