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Guideline Value

Corporate

Guideline Value for Ram Nagar South/Madipakkam Main Road(Velacheri Madipakkam Link Road)

₹5500/sq.ft.

The guideline value for Ram Nagar South/madipakkam Main Road(velacheri Madipakkam Link Road) in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 5500 per sq.ft, effective 1 July 2024. It was Rs 5000 per sq.ft from 1 April 2023, a 10% change. The land classification is Commercial Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madipakkam-1

Village

Velacheri

SRO

Commercial Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹5500 /sq.ft.
From 1-4-2023 ₹5000 /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/madipakkam Main Road(velacheri Madipakkam Link Road)

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Ram Nagar South/Madipakkam Main Road(Velacheri Madipakkam Link Road) guideline value

The current guideline value of Ram Nagar South/Madipakkam Main Road (Velacheri Madipakkam Link Road) is Rs 5,500 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 Commercial Class I Type - I.

How the guideline value of Ram Nagar South/Madipakkam Main Road(Velacheri Madipakkam Link Road) has changed

Over the years, the guideline value for Ram Nagar South/Madipakkam Main Road has undergone several revisions. The register has no figure for this street in 2002, 2003, 2007, 2012, and 2017. In 2023, the guideline value was set at Rs 5,000 per sq.ft, which was then increased by 10% to Rs 5,500 per sq.ft in the 2024 revision.

This reflects a notable increase from the previous year's figure. The 2024 revision marks a significant change, indicating a rise in the guideline value from Rs 5,000 per sq.ft in 2023 to Rs 5,500 per sq.ft in 2024.

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, with a median value of Rs 2,750 per sq.ft. The guideline value of Ram Nagar South/Madipakkam Main Road is above this median.

Stamp duty and registration fee for property in Ram Nagar South/Madipakkam Main Road(Velacheri Madipakkam Link Road)

For a 1,000 sq.ft plot at the current rate of Rs 5,500 per sq.ft, the guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, making the total Rs 4,95,000. 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 details.

Which Sub Registrar Office covers Ram Nagar South/Madipakkam Main Road(Velacheri Madipakkam Link Road)?

The Sub Registrar Office that covers Ram Nagar South/Madipakkam 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 plays a crucial role when buying or selling property in Madipakkam-1. It is used to determine the stamp duty and registration fees applicable during the property transaction.

When registering a property, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Ram Nagar South/Madipakkam Main Road?

The current guideline value of Ram Nagar South/Madipakkam Main Road is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen revisions in 2023 and 2024, increasing from Rs 5,000 per sq.ft in 2023 to Rs 5,500 per sq.ft in 2024. The register has no figure for this street in the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for this area?

The land classification for Ram Nagar South/Madipakkam Main Road is Commercial Class I Type - I. This classification indicates the type of development and usage permitted in the area.

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 property registrations for the area.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 55,00,000, the stamp duty would be calculated accordingly, along with the registration fee.