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Guideline Value

Corporate

Guideline Value for Ram Nagar South Extension 8th Main Road

₹2750/sq.ft.

The guideline value for Ram Nagar South Extension 8th 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 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 Extension 8th Main Road

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Ram Nagar South Extension 8th Main Road guideline value

The current guideline value of Ram Nagar South Extension 8th Main Road is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village and falls under the Velacheri SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Ram Nagar South Extension 8th Main Road has changed

The guideline value for Ram Nagar South Extension 8th Main Road has undergone several revisions over the years. The register does not contain figures for the years 2002, 2003, 2007, 2012, and 2017. The most recent revisions show that in 2023, the guideline value was Rs 2,500 per sq.ft, and it increased to Rs 2,750 per sq.ft in 2024, marking a change of +10%.

Prior to the 2023 revision, there are no figures available for the aforementioned years. The 2024 figure of Rs 2,750 per sq.ft aligns with the median guideline value of Rs 2,750 per sq.ft for Madipakkam-1, which ranges from Rs 1,650 to Rs 5,500 per sq.ft.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO that carry a 2024 guideline value. The current figure for Ram Nagar South Extension 8th Main Road matches the median value of Rs 2,750 per sq.ft. The following are other streets in Madipakkam-1:

Stamp duty and registration fee for property in Ram Nagar South Extension 8th 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 cost to 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 use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Ram Nagar South Extension 8th Main Road?

The Ram Nagar South Extension 8th Main Road falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, you can visit find your SRO.

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 is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official registry.

When buying or selling property, both parties must be aware of the guideline value as it affects the overall costs involved in the transaction. It serves as a reference point for the legal and financial aspects of property dealings in the area.

Frequently asked questions

What is the current guideline value for Ram Nagar South Extension 8th Main Road?

The current guideline value for Ram Nagar South Extension 8th Main Road is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024, representing a change of +10%. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions is 7% of the guideline value or the sale price, whichever is higher. This will be applicable when registering property in Ram Nagar South Extension 8th Main Road.

Where can I find the Velacheri Sub Registrar Office?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. This office handles registrations for properties in the area.

What is the land classification for Ram Nagar South Extension 8th Main Road?

The land classification for Ram Nagar South Extension 8th Main Road is Residential Class I Type - III, indicating its designation for residential purposes.