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Guideline Value

Corporate

Guideline Value for Ram Nagar South 8th Cross Street

₹2750/sq.ft.

The guideline value for Ram Nagar South 8th 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 N/A
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 8th Cross Street

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Ram Nagar South 8th Cross Street guideline value

The current guideline value for Ram Nagar South 8th 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 8th Cross Street has changed

Over the years, the guideline value for Ram Nagar South 8th Cross Street has seen revisions. The register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision recorded a guideline value of Rs 2,500 per sq.ft, which was then increased by 10% to Rs 2,750 per sq.ft in the 2024 revision.

In summary, the 2024 revision shows an increase from the previous year's value. The 2023 revision was the last recorded value before the current one, reflecting a positive change in the guideline value.

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. The median value is Rs 2,750 per sq.ft, which is the same as the guideline value for Ram Nagar South 8th Cross Street.

Stamp duty and registration fee for property in Ram Nagar South 8th 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 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. Note that the duty is charged on the higher of the guideline value or the sale price. For a detailed calculation, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ram Nagar South 8th Cross Street?

The Sub Registrar Office that covers Ram Nagar South 8th 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 during property registration in Madipakkam-1. It is used to determine the stamp duty and registration fees that need to be paid when a property transaction occurs.

When buying or selling property, the guideline value will be compared to the sale price, and the higher of the two will be used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Ram Nagar South 8th Cross Street?

The current guideline value for Ram Nagar South 8th 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 an increase from Rs 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024, reflecting a 10% increase. There are no recorded figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the stamp duty rate for property in this area?

The stamp duty rate for property transactions in this area is 7%. This is calculated based on the higher of the guideline value or the sale price.

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

The Sub Registrar Office for Ram Nagar South 8th Cross Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft, which is the same as the current guideline value for Ram Nagar South 8th Cross Street.