Guideline Value

Corporate

Guideline Value for Ramagiri 2nd Street

₹4950/sq.ft.

The guideline value for Ramagiri 2nd Street in Velachery village (Velacheri SRO, Chennai zone) is Rs 4950 per sq.ft, effective 1 July 2024. It was Rs 4500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹4950 /sq.ft.
From 1-4-2023 ₹4500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹3015 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹4500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹2000 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹683 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹609 /sq.ft.
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 Ramagiri 2nd Street

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Ramagiri 2nd Street guideline value

The current guideline value of Ramagiri 2nd Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - I.

How the guideline value of Ramagiri 2nd Street has changed

The guideline value for Ramagiri 2nd Street has seen several revisions over the years. In 2002, the guideline value was Rs 609 per sq.ft, which increased to Rs 683 per sq.ft in 2003. This was followed by a significant rise to Rs 2,000 per sq.ft in 2007, and then to Rs 4,500 per sq.ft in 2012. However, there was a decrease to Rs 3,015 per sq.ft in 2017. The value then increased to Rs 4,500 per sq.ft in 2023, before reaching the current rate of Rs 4,950 per sq.ft in 2024.

Between the revisions, the most notable changes include an increase of 10% from 2023 to 2024 and a substantial increase of 49% from 2017 to 2023. The period from 2002 to 2024 reflects an overall increase of 713% in the guideline value for this street.

Guideline values in Velachery

In Velachery, there are a total of 2,691 streets under the Velacheri SRO, with guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, making the current guideline value of Ramagiri 2nd Street above this median.

Stamp duty and registration fee for property in Ramagiri 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value would be Rs 49,50,000. The stamp duty at 7% would amount to Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total fees together to Rs 4,45,500. 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 Ramagiri 2nd Street?

The Sub Registrar Office covering Ramagiri 2nd 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 Velachery

The guideline value is a critical factor in the registration process when buying or selling property in Velachery. It serves as the basis for calculating stamp duty and registration fees, which are mandatory for property transactions.

When a property is registered, the guideline value is considered to ensure that all legal requirements are met. Buyers and sellers must be aware of the current guideline value to accurately assess their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Ramagiri 2nd Street?

The current guideline value of Ramagiri 2nd Street is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, increasing from Rs 609 per sq.ft in 2002 to Rs 4,950 per sq.ft in 2024, reflecting an overall increase of 713% over the years.

What are the stamp duty and registration fees for property in Ramagiri 2nd Street?

For a 1,000 sq.ft plot at the guideline value of Rs 4,950 per sq.ft, the total fees would amount to Rs 4,45,500, which includes stamp duty and registration fees.

Which Sub Registrar Office covers Ramagiri 2nd Street?

The Velacheri Sub Registrar Office covers Ramagiri 2nd Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How does the guideline value affect property transactions?

The guideline value is used to calculate stamp duty and registration fees during property transactions, and it is essential for buyers and sellers to be aware of it for accurate financial planning.