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Guideline Value

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Guideline Value for Ram Nagar Sreenivasan Salai (Main Road) 1st Street

₹3850/sq.ft.

The guideline value for Ram Nagar Sreenivasan Salai (main Road) 1st 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) 1st Street

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Ram Nagar Sreenivasan Salai (Main Road) 1st Street guideline value

The current guideline value of Ram Nagar Sreenivasan Salai (Main Road) 1st 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) 1st Street has changed

The guideline value for Ram Nagar Sreenivasan Salai (Main Road) 1st Street has seen several revisions over the years. The register has no figure for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 3,500 per sq.ft, and in the 2024 revision, it increased to Rs 3,850 per sq.ft, marking a change of +10%.

With the latest 2024 revision, the guideline value stands at Rs 3,850 per sq.ft. This figure reflects the ongoing adjustments made by the Registration Department to ensure that the guideline values align with current market conditions.

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 Sreenivasan Salai (Main Road) 1st Street is above this median.

Stamp duty and registration fee for property in Ram Nagar Sreenivasan Salai (Main Road) 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total 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, making the total cost Rs 3,46,500. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more precise calculations based on your property details.

Which Sub Registrar Office covers Ram Nagar Sreenivasan Salai (Main Road) 1st Street?

The Sub Registrar Office that covers Ram Nagar Sreenivasan Salai (Main Road) 1st 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 information.

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

The guideline value is a crucial factor when buying or selling property in Madipakkam-1. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be used for calculating the applicable fees.

When a property is registered, the guideline value serves as a benchmark to ensure that the transaction is recorded at a fair value. This helps maintain transparency and accountability in real estate transactions in the area.

Frequently asked questions

What is the current guideline value of Ram Nagar Sreenivasan Salai (Main Road) 1st Street?

The current guideline value of Ram Nagar Sreenivasan Salai (Main Road) 1st 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 has seen revisions, with the 2023 figure being Rs 3,500 per sq.ft and the 2024 figure increasing to Rs 3,850 per sq.ft, a change of +10%.

What is the land classification for this street?

The land classification for Ram Nagar Sreenivasan Salai (Main Road) 1st Street is Residential Class I Type - I.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Ram Nagar Sreenivasan Salai (Main Road) 1st 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 higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 2,69,500.