Guideline Value for Ram Nagar South 5th Main Road

Ram Nagar South 5th Main Road guideline value

The current guideline value of Ram Nagar South 5th 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 5th Main Road has changed

The guideline value for Ram Nagar South 5th 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 the 2023 revision. The latest revision in 2024 raised the guideline value to Rs 2,750 per sq.ft, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, from 2017 to 2024, the guideline value has increased by 64%. 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 1823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. The guideline value for Ram Nagar South 5th Main Road is equal to this median value.

• Ram Nagar South 5th Cross Street: Rs 2,750 per sq.ft (2024)
• Ram Nagar South 5th Street: Rs 2,750 per sq.ft (2024)
• Ramnagar south 4th street: Rs 2,750 per sq.ft (2024)
• Ram Nagar South 6th Cross Street: Rs 2,750 per sq.ft (2024)
• Ram Nagar South 4th Main Road: Rs 2,750 per sq.ft (2024)
• Ram Nagar South 6th Main Road: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Ram Nagar South 5th Main Road

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

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

Which Sub Registrar Office covers Ram Nagar South 5th Main Road?

The Sub Registrar Office that covers Ram Nagar South 5th 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 further assistance.

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

The guideline value is a crucial factor in the registration process for property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded at a fair value. This helps in maintaining transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Ram Nagar South 5th Main Road?

The current guideline value of Ram Nagar South 5th Main Road is Rs 2,750 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 1,675 per sq.ft in 2017 to Rs 2,750 per sq.ft in 2024, which is a total increase of 64% over the years.

What are the stamp duty and registration fees for properties in this area?

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 do I need to register my property?

The Velacheri Sub Registrar Office is responsible for property registrations in Ram Nagar South 5th Main Road, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Ram Nagar South 5th Main Road?

Ram Nagar South 5th Main Road is classified as Residential Class I Type - III, indicating its suitability for residential development.