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Guideline Value

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Guideline Value for Ram Nagar Sreenivasan Salai (Main Road) Extn

₹3850/sq.ft.

The guideline value for Ram Nagar Sreenivasan Salai (main Road) Extn 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) Extn

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Ram Nagar Sreenivasan Salai (Main Road) Extn guideline value

The current guideline value of Ram Nagar Sreenivasan Salai (Main Road) Extn is Rs 3,850 per sq.ft, effective from 1 July 2024. This property 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) Extn has changed

The guideline value for Ram Nagar Sreenivasan Salai (Main Road) Extn has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 3,850 per sq.ft, which reflects a 10% increase from the 2023 revision of Rs 3,500 per sq.ft. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002.

Prior to the 2023 revision, there are no recorded figures for this street in the years mentioned. Therefore, the only available figures are from 2023 and 2024, showing a clear upward adjustment in the guideline value.

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, making the current value of Rs 3,850 per sq.ft for Ram Nagar Sreenivasan Salai (Main Road) Extn above the median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, leading to a total of Rs 3,46,500. It is important to note that the 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 Sreenivasan Salai (Main Road) Extn?

The Ram Nagar Sreenivasan Salai (Main Road) Extn falls under the Velacheri Sub Registrar Office located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042, Chennai registration zone. For more information, you can 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 within Madipakkam-1, as it determines the minimum value at which a property can be registered. When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees that need to be paid at the time of registration.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements and to avoid any potential issues during the registration process. This value serves as a benchmark for property transactions in the area.

Frequently asked questions

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

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

How much has the guideline value changed recently?

From the 2023 revision to the 2024 revision, the guideline value increased by 10%, moving from Rs 3,500 per sq.ft to Rs 3,850 per sq.ft.

What is the land classification for Ram Nagar Sreenivasan Salai (Main Road) Extn?

Ram Nagar Sreenivasan Salai (Main Road) Extn is classified as Residential Class I Type - I.

Where can I find the Velacheri Sub Registrar Office?

The Velacheri Sub Registrar Office is 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 valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 at a rate of 7%.