Guideline Value for Ram Nagar South

Ram Nagar South guideline value

The current guideline value of Ram Nagar South, located in Madipakkam-1 village under the Velacheri SRO, is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - III.

How the guideline value of Ram Nagar South has changed

The guideline value register has no figures for Ram Nagar South for the years 2002, 2003, 2007, 2012, 2017, and 2023. The most recent revision, effective from 1 July 2024, sets the guideline value at Rs 2,750 per sq.ft.

As there have been no changes between the revisions, the 2024 figure remains consistent with the previous years where no data was available for this street.

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 is Rs 2,750 per sq.ft, making the guideline value of Ram Nagar South equal to this median.

• Ram Nagar Right 1st Street: Rs 3,850 per sq.ft (2024)
• Ram Nagar Ramkumar Street: Rs 3,850 per sq.ft (2024)
• Ram Nagar South 10th Main Road: Rs 2,750 per sq.ft (2024)
• Ram Nagar South 10th Street: Rs 2,750 per sq.ft (2024)
• Ram Nagar South 11 th Main Road: Rs 2,750 per sq.ft (2024)
• Ram Nagar South 11th Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Ram Nagar South

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, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that the stamp 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?

The Sub Registrar Office that covers Ram Nagar South is 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 is a crucial factor in property transactions in Madipakkam-1, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value during negotiations to ensure compliance with local regulations.

When registering a property, the guideline value is used to calculate applicable duties and fees, ensuring that both parties are aware of the financial implications of the transaction. This value helps maintain transparency in property dealings.

Frequently asked questions

What is the current guideline value of Ram Nagar South?

The current guideline value of Ram Nagar South is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value register has no figures for Ram Nagar South for the years 2002, 2003, 2007, 2012, 2017, and 2023. The only recent figure available is Rs 2,750 per sq.ft from the 2024 revision.

What is the classification of land in Ram Nagar South?

Ram Nagar South is classified as Residential Class I Type - III, which indicates its primary use for residential purposes.

What are the stamp duty and registration fees for properties in Ram Nagar South?

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. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Ram Nagar South located?

The Velacheri Sub Registrar Office, which covers Ram Nagar South, is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.