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Guideline Value

Corporate

Guideline Value for Ram Nagar Sreenivasan Salai (Main Road)

₹3850/sq.ft.

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

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Ram Nagar Sreenivasan Salai (Main Road) guideline value

The current guideline value of Ram Nagar Sreenivasan Salai (Main Road) is Rs 3,850 per sq.ft, 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) has changed

The guideline value for Ram Nagar Sreenivasan Salai (Main Road) has seen several revisions over the years. As per the register, there are no figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the value 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%.

In the 2024 revision, the guideline value stands at Rs 3,850 per sq.ft, reflecting the most recent adjustment. Prior to this, the 2023 revision recorded a value of Rs 3,500 per sq.ft. This upward adjustment indicates a significant change in the guideline value for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are a total of 1823 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, placing Ram Nagar Sreenivasan Salai (Main Road) above this median.

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

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, resulting in 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.

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

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

The Sub Registrar Office that covers Ram Nagar Sreenivasan Salai (Main Road) 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 during the registration of property transactions in Madipakkam-1. It determines the minimum value at which a property can be registered and is used to calculate the applicable stamp duty and registration fees.

When buying or selling property, the guideline value helps ensure transparency in transactions. It serves as a reference point for both buyers and sellers, ensuring that the property is valued appropriately based on the prevailing rates in the area.

Frequently asked questions

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

The current guideline value of Ram Nagar Sreenivasan Salai (Main Road) 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 has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, reflecting a +10% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft. The guideline value of Ram Nagar Sreenivasan Salai (Main Road) is above this median.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, on a 1,000 sq.ft plot, the total registration costs would be Rs 3,46,500.

Which office handles property registrations for Ram Nagar Sreenivasan Salai (Main Road)?

The Velacheri Sub Registrar Office handles property registrations for Ram Nagar Sreenivasan Salai (Main Road). It is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.