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Guideline Value for Ram Nagar Sreenivasan Salai (Main Road) 10th Street

₹3850/sq.ft.

The guideline value for Ram Nagar Sreenivasan Salai (main Road) 10th Street in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madipakkam-1

Village

Velacheri

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹3850 /sq.ft.
From 1-4-2023 ₹3500 /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 Sreenivasan Salai (main Road) 10th Street

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Ram Nagar Sreenivasan Salai (Main Road) 10th Street guideline value

The current guideline value for Ram Nagar Sreenivasan Salai (Main Road) 10th Street is Rs 3,850 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 - I.

How the guideline value of Ram Nagar Sreenivasan Salai (Main Road) 10th Street has changed

In the 2023 revision, the guideline value was Rs 3,500 per sq.ft. The increase from 2023 to 2024 is 10%, bringing the current guideline value to Rs 3,850 per sq.ft. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

Thus, the only available revisions for Ram Nagar Sreenivasan Salai (Main Road) 10th Street are from 2023 and 2024, with a significant increase noted in the latest revision.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,750 per sq.ft, and the 2024 figure for Ram Nagar Sreenivasan Salai (Main Road) 10th Street is above that median.

Stamp duty and registration fee for property in Ram Nagar Sreenivasan Salai (Main Road) 10th Street

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total costs to Rs 3,46,500. 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 more information.

Which Sub Registrar Office covers Ram Nagar Sreenivasan Salai (Main Road) 10th Street?

The Sub Registrar Office that covers Ram Nagar Sreenivasan Salai (Main Road) 10th 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 details.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a critical factor in the registration process when buying or selling property in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees payable during the transaction.

When a property is registered, the guideline value is considered alongside the sale price to ensure that the appropriate duties are calculated. This helps in maintaining transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value for Ram Nagar Sreenivasan Salai (Main Road) 10th Street?

The current guideline value for Ram Nagar Sreenivasan Salai (Main Road) 10th Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for this street was Rs 3,500 per sq.ft in 2023. There has been a 10% increase to Rs 3,850 per sq.ft in the 2024 revision. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002.

What is the land classification for Ram Nagar Sreenivasan Salai (Main Road) 10th Street?

The land classification for Ram Nagar Sreenivasan Salai (Main Road) 10th Street is Residential Class I Type - I.

Where can I find the registration office for this area?

The registration office for Ram Nagar Sreenivasan Salai (Main Road) 10th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 38,50,000, the stamp duty at 7% would be Rs 2,69,500.