Guideline Value

Corporate

Guideline Value for Ramagiri Nagar Ambedkar Colony

₹4950/sq.ft.

The guideline value for Ramagiri Nagar Ambedkar Colony in Velachery village (Velacheri SRO, Chennai zone) is Rs 4950 per sq.ft, effective 1 July 2024. 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 N/A
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 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 Ramagiri Nagar Ambedkar Colony

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Ramagiri Nagar Ambedkar Colony guideline value

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

How the guideline value of Ramagiri Nagar Ambedkar Colony has changed

The guideline value for Ramagiri Nagar Ambedkar Colony has undergone several revisions over the years. The earliest registered figure is from 2012, when the guideline value was Rs 4,500 per sq.ft. In 2017, the value decreased to Rs 3,015 per sq.ft, marking a decline of 33%. However, with the 2024 revision, the guideline value increased significantly to Rs 4,950 per sq.ft, resulting in a 64% rise from the 2017 figure.

Overall, comparing the 2012 and 2024 revisions, there has been a net increase of 10% in the guideline value. The register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Ramagiri Nagar Ambedkar Colony's 2024 figure above this median.

Stamp duty and registration fee for property in Ramagiri Nagar Ambedkar Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value amounts to Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total charges to Rs 4,45,500. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Ramagiri Nagar Ambedkar Colony?

The Sub Registrar Office that covers Ramagiri Nagar Ambedkar Colony 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 Velachery

The guideline value is a critical factor during the registration of property transactions in Velachery. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these charges are based on the official valuation of the property.

When buying or selling property, it is essential to consider the guideline value, as it affects the overall cost of the transaction. Buyers should be aware that the stamp duty is levied on the higher of the guideline value or the sale price, which can significantly impact the total expenses involved in the property transaction.

Frequently asked questions

What is the current guideline value of Ramagiri Nagar Ambedkar Colony?

The current guideline value of Ramagiri Nagar Ambedkar Colony is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has seen fluctuations, starting at Rs 4,500 per sq.ft in 2012, dropping to Rs 3,015 per sq.ft in 2017, and then increasing to Rs 4,950 per sq.ft in 2024.

What is the land classification for Ramagiri Nagar Ambedkar Colony?

The land classification for Ramagiri Nagar Ambedkar Colony is Residential Class II Type - I.

Where can I find the Sub Registrar Office for this area?

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

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, on a property valued at Rs 49,50,000, the stamp duty would be Rs 3,46,500 at a rate of 7%.