Explore LandLens: verify, value, build-check, track & transact smarter

Guideline Value

Corporate

Guideline Value for Ram Nagar South 1st Main Road

₹2750/sq.ft.

The guideline value for Ram Nagar South 1st 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 1st Main Road

Need Complete Property Verification?

Get ownership details, EC records, FMB, zone checks, geo-insights & AI analysis - all in one place

Ownership Details
EC Records
FMB Sketch
Zone Checks
Geo-Insights
AI Analysis
Try VerifyMyLand Now ✨ Get comprehensive property verification in minutes

Ram Nagar South 1st Main Road guideline value

The current guideline value of Ram Nagar South 1st Main Road is Rs 2,750 per sq.ft, effective from 1 July 2024. This road 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 1st Main Road has changed

The guideline value for Ram Nagar South 1st Main Road has seen several revisions over the years. The 2017 revision set the value at Rs 1,675 per sq.ft, which increased to Rs 2,500 per sq.ft in 2023. The most recent revision in 2024 has further increased this value to Rs 2,750 per sq.ft, marking a 10% increase from the previous year. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. The significant changes include a 49% increase from 2017 to 2023 and a 10% increase from 2023 to 2024.

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 is Rs 2,750 per sq.ft, which is the same as the current value for Ram Nagar South 1st Main Road.

Stamp duty and registration fee for property in Ram Nagar South 1st 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 amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees to Rs 2,47,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Ram Nagar South 1st Main Road?

The Sub Registrar Office that covers Ram Nagar South 1st 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 details.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value plays a crucial role during the registration of property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value as it affects the overall cost of the transaction. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any legal issues during registration.

Frequently asked questions

What is the current guideline value of Ram Nagar South 1st Main Road?

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

How much has the guideline value changed in recent years?

Since the 2017 revision, the guideline value has increased by 64% to the current rate of Rs 2,750 per sq.ft in 2024. The value increased from Rs 1,675 in 2017 to Rs 2,500 in 2023 and then to Rs 2,750 in 2024.

What is the stamp duty rate for property in Ram Nagar South 1st Main Road?

The stamp duty rate for property in Ram Nagar South 1st 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 of Ram Nagar South 1st Main Road?

Ram Nagar South 1st Main Road is classified as Residential Class I Type - III, indicating its suitability for residential development.