Guideline Value

Corporate

Guideline Value for Ram Nagar

₹3850/sq.ft.

The guideline value for Ram Nagar in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. 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 N/A
From 9-6-2017 To 31-3-2023 ₹2345 /sq.ft.
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]

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Ram Nagar guideline value

The current guideline value of Ram Nagar in Madipakkam-1 village is Rs 3,850 per sq.ft, effective from 1 July 2024. This area falls under the Velacheri Sub Registrar Office (SRO) and is classified as Residential Class I Type - I.

How the guideline value of Ram Nagar has changed

The guideline value for Ram Nagar has undergone significant changes over the years. The 2017 revision set the value at Rs 2,345 per sq.ft. This figure increased to Rs 3,850 per sq.ft in the 2024 revision, marking a change of +64% from the previous figure.

There are no figures available for the years 2023, 2012, 2007, 2003, and 2002 for this street in the register. The only revisions that provide a guideline value are from 2017 and 2024.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value is Rs 2,750 per sq.ft, which means Ram Nagar's 2024 figure of Rs 3,850 per sq.ft is above this median.

Stamp duty and registration fee for property in Ram Nagar

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% is Rs 2,69,500, and the registration fee at 2% is Rs 77,000, bringing the total fees to Rs 3,46,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Ram Nagar?

The Sub Registrar Office that covers Ram Nagar 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 plays a crucial role in property transactions in Madipakkam-1. It is used to determine the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must refer to this value to ensure compliance with local regulations.

During the registration process, the guideline value is considered to assess the tax liabilities involved in the transaction. This ensures that the government receives the appropriate revenue from property sales in the area.

Frequently asked questions

What is the current guideline value of Ram Nagar?

The current guideline value of Ram Nagar is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased from Rs 2,345 per sq.ft to Rs 3,850 per sq.ft, representing a change of +64%.

Are there any years without a guideline value for Ram Nagar?

Yes, the register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for Ram Nagar.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft, with Ram Nagar's current value exceeding this median.

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.