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Guideline Value for Ram Nagar Sreenivasan Salai (Main Road) 2nd Street

₹3850/sq.ft.

The guideline value for Ram Nagar Sreenivasan Salai (main Road) 2nd 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) 2nd Street

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Ram Nagar Sreenivasan Salai (Main Road) 2nd Street guideline value

The current guideline value of Ram Nagar Sreenivasan Salai (Main Road) 2nd Street is Rs 3,850 per sq.ft as per the 2024 revision, effective from 1 July 2024. This street is located in Madipakkam-1 village, under the Velacheri SRO, and is classified as Residential Class I Type - I.

How the guideline value of Ram Nagar Sreenivasan Salai (Main Road) 2nd Street has changed

The guideline value for Ram Nagar Sreenivasan Salai (Main Road) 2nd Street has seen several revisions over the years. The register does not contain figures for the years 2002, 2003, 2007, 2012, and 2017. The most recent figures are from the 2023 revision at Rs 3,500 per sq.ft, which increased to Rs 3,850 per sq.ft in the 2024 revision, marking a change of +10%.

Prior to the 2023 revision, there were no available figures for the years mentioned. The 2024 guideline value of Rs 3,850 per sq.ft places this street above the median guideline value of Rs 2,750 per sq.ft for the 1,823 streets in Madipakkam-1 under the Velacheri SRO.

Guideline values in Madipakkam-1

In Madipakkam-1, the guideline values range from Rs 1,650 to Rs 5,500 per sq.ft. The 2024 guideline value for Ram Nagar Sreenivasan Salai (Main Road) 2nd Street is above the median of Rs 2,750 per sq.ft. Below are the guideline values for other streets in Madipakkam-1:

Stamp duty and registration fee for property in Ram Nagar Sreenivasan Salai (Main Road) 2nd 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, bringing the total cost for stamp duty and registration to Rs 3,46,500. Stamp duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ram Nagar Sreenivasan Salai (Main Road) 2nd Street?

The Sub Registrar Office that covers Ram Nagar Sreenivasan Salai (Main Road) 2nd 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 crucial factor in the registration process when buying or selling property in Madipakkam-1. It determines the amount of stamp duty and registration fees that need to be paid, which are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, the buyer must ensure that the transaction is compliant with the current guideline value to avoid any legal issues. This value serves as a benchmark for property transactions in the area.

Frequently asked questions

What is the current guideline value for Ram Nagar Sreenivasan Salai (Main Road) 2nd Street?

The current guideline value for Ram Nagar Sreenivasan Salai (Main Road) 2nd Street is Rs 3,850 per sq.ft as per the 2024 revision.

How much has the guideline value changed recently?

The guideline value increased from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, reflecting a change of +10%.

What are the guideline values for other streets in Madipakkam-1?

Other streets in Madipakkam-1 have guideline values ranging from Rs 3,850 per sq.ft, similar to Ram Nagar Sreenivasan Salai (Main Road) 2nd Street. These include streets like 1st Street, 6th Street, and others.

Where is the Velacheri Sub Registrar Office located?

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

How is stamp duty calculated for properties in Madipakkam-1?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. In the case of Ram Nagar Sreenivasan Salai (Main Road) 2nd Street, the guideline value is used for this calculation.