Guideline Value for Ramachandra Salai 1st Street

Ramachandra Salai 1st Street guideline value

The current guideline value of Ramachandra Salai 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Ramachandra Salai 1st Street has changed

The guideline value for Ramachandra Salai 1st Street has undergone several revisions over the years. As per the latest revision in 2024, the guideline value is Rs 2,200 per sq.ft, which reflects a 10% increase from the previous year's figure of Rs 2,000 per sq.ft established in 2023. Notably, the register has no figure for this street in the years 2017, 2012, 2007, 2003, and 2002.

In summary, the 2023 revision set the value at Rs 2,000 per sq.ft, while the 2024 revision increased it to Rs 2,200 per sq.ft. The absence of figures for the earlier years indicates that there may have been no formal valuation recorded for this street during those periods.

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 these streets is Rs 2,750 per sq.ft, placing the 2024 figure for Ramachandra Salai 1st Street below this median.

• Ramachandra Salai 2nd Street: Rs 2,200 per sq.ft (2024)
• Ramaiah Nagar: Rs 1,650 per sq.ft (2024)
• Rama Chandara Salai: Rs 3,300 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 Ramachandra Salai 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, leading to a total of Rs 1,98,000. 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 Ramachandra Salai 1st Street?

The Sub Registrar Office that covers Ramachandra Salai 1st 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 details.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a critical factor during the registration of property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

Frequently asked questions

What is the current guideline value of Ramachandra Salai 1st Street?

The current guideline value of Ramachandra Salai 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much did the guideline value increase from 2023 to 2024?

The guideline value increased by 10% from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024.

Are there any years where no guideline value was recorded for this street?

Yes, the register has no figure for Ramachandra Salai 1st Street in the years 2017, 2012, 2007, 2003, and 2002.

What is the median guideline value for streets in Madipakkam-1?

The median guideline value for streets in Madipakkam-1 is Rs 2,750 per sq.ft, which is higher than the current guideline value of Ramachandra Salai 1st Street.

Where can I find the Sub Registrar Office for Ramachandra Salai 1st Street?

The Sub Registrar Office for Ramachandra Salai 1st Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.