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Guideline Value

Corporate

Guideline Value for Ram Nagar South 6th Cross Street

₹2750/sq.ft.

The guideline value for Ram Nagar South 6th Cross Street in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 2750 per sq.ft, effective 1 July 2024. 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 N/A
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 6th Cross Street

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Ram Nagar South 6th Cross Street guideline value

The current guideline value of Ram Nagar South 6th 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. The land classification for this area is Residential Class I Type - III.

How the guideline value of Ram Nagar South 6th Cross Street has changed

In the 2017 revision, the guideline value was Rs 1,675 per sq.ft. The most recent revision in 2024 increased this value to Rs 2,750 per sq.ft, marking a significant increase of 64%. There are no figures available for the years 2023, 2012, 2007, 2003, and 2002 for this street.

Thus, the guideline value has seen a substantial rise from the 2017 figure to the current rate in 2024. The increase reflects changes in the local real estate landscape, aligning with the median value for the area.

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 coincidentally matches the guideline value of Ram Nagar South 6th Cross Street.

Stamp duty and registration fee for property in Ram Nagar South 6th Cross 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, while the registration fee at 2% would be Rs 55,000. Together, these fees total 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 detailed calculations.

Which Sub Registrar Office covers Ram Nagar South 6th Cross Street?

The Sub Registrar Office that covers Ram Nagar South 6th 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 critical factor in the registration process for property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government collects the appropriate stamp duty and registration fees.

When buying or selling property in this area, it is essential to be aware of the current guideline value, as it directly impacts the financial obligations related to the transaction. Buyers should ensure that the sale price is either equal to or above the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value for Ram Nagar South 6th Cross Street?

The current guideline value for Ram Nagar South 6th Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since the last revision?

Since the last revision in 2017, the guideline value has increased from Rs 1,675 per sq.ft to Rs 2,750 per sq.ft, which is a rise of 64%.

Are there any years without a guideline value for this street?

Yes, the register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for Ram Nagar South 6th Cross Street.

What are the stamp duty and registration fees for property transactions?

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 Ram Nagar South 6th Cross Street?

The Velacheri Sub Registrar Office handles registrations for Ram Nagar South 6th Cross Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.