Guideline Value

Corporate

Guideline Value for Ramagiri Nagar Extn

₹4950/sq.ft.

The guideline value for Ramagiri Nagar Extn 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 Extn

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Ramagiri Nagar Extn guideline value

The current guideline value of Ramagiri Nagar Extn is Rs 4,950 per sq.ft, effective from 1 July 2024. This area is located in Velachery village and falls under the Velacheri SRO. The land classification for this locality is Residential Class II Type - I.

How the guideline value of Ramagiri Nagar Extn has changed

In the 2012 revision, the guideline value was set at Rs 4,500 per sq.ft. Following this, the 2017 revision saw a decrease to Rs 3,015 per sq.ft, marking a decline of 33%. However, the most recent 2024 revision has increased the guideline value to Rs 4,950 per sq.ft, representing a significant increase of 64% from the 2017 figure. It is important to note that there are no figures available for the years 2023, 2007, 2003, and 2002 for this street.

Overall, comparing the 2012 and 2024 revisions, there has been a modest increase of 10% in the guideline value. The current value of Rs 4,950 per sq.ft is reflective of the latest adjustments made in the 2024 revision.

Guideline values in Velachery

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

Stamp duty and registration fee for property in Ramagiri Nagar Extn

For a 1,000 sq.ft plot at the current rate of Rs 4,950 per sq.ft, the 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 fees to Rs 4,45,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Ramagiri Nagar Extn?

The Sub Registrar Office that covers Ramagiri Nagar Extn 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 in the registration of property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps in assessing the financial implications of the transaction. Buyers and sellers must consider this value to understand the costs associated with registration, which are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Ramagiri Nagar Extn?

The current guideline value of Ramagiri Nagar Extn 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 changed from Rs 4,500 per sq.ft in 2012 to Rs 3,015 per sq.ft in 2017, and then increased to Rs 4,950 per sq.ft in 2024. There are no figures available for the years 2023, 2007, 2003, and 2002 for this street.

What is the stamp duty rate for properties in Ramagiri Nagar Extn?

The stamp duty rate for properties in Ramagiri Nagar Extn is 7%. This is applied to the higher of the guideline value or the sale price of the property.

Where can I find the Sub Registrar Office for Ramagiri Nagar Extn?

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

What is the land classification for Ramagiri Nagar Extn?

The land classification for Ramagiri Nagar Extn is Residential Class II Type - I, indicating its suitability for residential development.