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Guideline Value for Ram Nagar Sreenivasan Salai (Main Road) 6th Street

₹3850/sq.ft.

The guideline value for Ram Nagar Sreenivasan Salai (main Road) 6th 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) 6th Street

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Ram Nagar Sreenivasan Salai (Main Road) 6th Street guideline value

The current guideline value of Ram Nagar Sreenivasan Salai (Main Road) 6th 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) 6th Street has changed

As per the revisions in the guideline value register, there has been no figure recorded for Ram Nagar Sreenivasan Salai (Main Road) 6th Street in the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 3,500 per sq.ft, which was an increase from the previous figure. The latest revision in 2024 has raised the guideline value to Rs 3,850 per sq.ft, marking a 10% increase from the 2023 figure.

This upward adjustment reflects the current guideline value of Rs 3,850 per sq.ft for 2024, which is now established as the new benchmark for transactions involving properties on this street.

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 for the area is Rs 2,750 per sq.ft, positioning Ram Nagar Sreenivasan Salai (Main Road) 6th Street above this median value.

Stamp duty and registration fee for property in Ram Nagar Sreenivasan Salai (Main Road) 6th 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 charges to Rs 3,46,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ram Nagar Sreenivasan Salai (Main Road) 6th Street?

The Sub Registrar Office that covers Ram Nagar Sreenivasan Salai (Main Road) 6th 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 during property transactions in Madipakkam-1. It serves as a reference point for calculating the stamp duty and registration fees, ensuring that both buyers and sellers are aware of the official valuation of the property.

When you register a property, the guideline value will determine the minimum amount on which the stamp duty is calculated. This ensures that all transactions are conducted fairly and transparently, adhering to the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Ram Nagar Sreenivasan Salai (Main Road) 6th Street?

The current guideline value of Ram Nagar Sreenivasan Salai (Main Road) 6th 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 at Rs 3,500 per sq.ft and the 2024 figure increasing to Rs 3,850 per sq.ft, reflecting a 10% rise.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft, which is lower than the current value of Ram Nagar Sreenivasan Salai (Main Road) 6th Street.

What are the stamp duty and registration fees for a property on this street?

For a 1,000 sq.ft property, the total guideline value is Rs 38,50,000, with stamp duty at Rs 2,69,500 and registration fees at Rs 77,000, totaling Rs 3,46,500.

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

The Velacheri Sub Registrar Office covers Ram Nagar Sreenivasan Salai (Main Road) 6th Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.