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Guideline Value

Corporate

Guideline Value for Ram Nagar South 8th Street

₹2750/sq.ft.

The guideline value for Ram Nagar South 8th 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 Street

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Ram Nagar South 8th Street guideline value

The current guideline value of Ram Nagar South 8th 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 and is classified as Residential Class I Type - III.

How the guideline value of Ram Nagar South 8th Street has changed

The guideline value for Ram Nagar South 8th Street has undergone several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 2,500 per sq.ft, which increased to Rs 2,750 per sq.ft in the 2024 revision, reflecting a change of +10%.

The 2024 revision of Rs 2,750 per sq.ft aligns with the median value of Rs 2,750 per sq.ft for the 1,823 streets in Madipakkam-1 under the Velacheri SRO. This indicates that the guideline value for Ram Nagar South 8th Street is consistent with the overall valuation in the area.

Guideline values in Madipakkam-1

In Madipakkam-1, the guideline values for properties range from Rs 1,650 to Rs 5,500 per sq.ft, with the median value being Rs 2,750 per sq.ft. Ram Nagar South 8th Street's 2024 figure matches this median.

Stamp duty and registration fee for property in Ram Nagar South 8th 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, bringing the total fees to Rs 2,47,500. 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 8th Street?

The Ram Nagar South 8th Street falls under 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 critical factor in property transactions in Madipakkam-1, as it determines the amount of stamp duty and registration fees payable at the time of sale. Buyers and sellers must refer to the current guideline value to ensure compliance with local regulations during the registration process.

When a property is registered, the guideline value is used to calculate the applicable fees. This ensures that the transaction is recorded accurately and reflects the value of the property as per the local government’s assessment.

Frequently asked questions

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

The current guideline value of Ram Nagar South 8th 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 for Ram Nagar South 8th Street was Rs 2,500 per sq.ft in 2023 and increased to Rs 2,750 per sq.ft in 2024, marking a 10% increase. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification of Ram Nagar South 8th Street?

Ram Nagar South 8th Street is classified as Residential Class I Type - III, indicating its suitability for residential development.

What are the stamp duty rates applicable?

The stamp duty for properties in Ram Nagar South 8th Street is charged at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

Which office handles the registration for Ram Nagar South 8th Street?

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