Guideline Value for Rama Chandara Salai

Rama Chandara Salai guideline value

The current guideline value of Rama Chandara Salai is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class I Type - II.

How the guideline value of Rama Chandara Salai has changed

The guideline value for Rama Chandara Salai has seen several revisions over the years. The register does not provide figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 3,000 per sq.ft, which increased to Rs 3,300 per sq.ft in the 2024 revision, marking a change of +10%.

Prior to the 2023 revision, there are no figures available for this street in the register for the years mentioned. The most recent revision reflects an upward adjustment in the guideline value, aligning with the overall trends observed in the area.

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 village is Rs 2,750 per sq.ft, placing the 2024 guideline value of Rama Chandara Salai above this median.

• Ramachandra Salai 1st Street: Rs 2,200 per sq.ft (2024)
• Ramachandra Salai 2nd Street: Rs 2,200 per sq.ft (2024)
• Ramaiah Nagar: Rs 1,650 per sq.ft (2024)
• RamaKrishna 5th Street: Rs 2,750 per sq.ft (2024)
• Ramakrishna Nagar, Manikavasagar Street: Rs 2,750 per sq.ft (2024)
• RamaKrishna Raj 5th Street, Sheela Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Rama Chandara Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, resulting in a total cost of Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rama Chandara Salai?

The Sub Registrar Office that covers Rama Chandara Salai 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 critical factor in the registration process for property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fairness in property dealings.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are essential components of the overall cost involved in the transaction. This ensures that both buyers and sellers are aware of the financial implications of their property dealings.

Frequently asked questions

What is the current guideline value of Rama Chandara Salai?

The current guideline value of Rama Chandara Salai is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Rama Chandara Salai increased from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, reflecting a change of +10%.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft, with Rama Chandara Salai's 2024 figure being above this median.

What are the stamp duty and registration fees for properties in Rama Chandara Salai?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Where is the Sub Registrar Office for Rama Chandara Salai located?

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