Guideline Value

Corporate

Guideline Value for Ramakrishna Nagar 2nd Main Road

₹3850/sq.ft.

The guideline value for Ramakrishna Nagar 2nd Main Road in Velachery village (Velacheri SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class II Type - III
History
Period Guideline Value
From 1-7-2024 ₹3850 /sq.ft.
From 1-4-2023 ₹3500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2345 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 ₹1500 /sq.ft.
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 Ramakrishna Nagar 2nd Main Road

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Ramakrishna Nagar 2nd Main Road guideline value

The current guideline value of Ramakrishna Nagar 2nd Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Residential Class II Type - III.

How the guideline value of Ramakrishna Nagar 2nd Main Road has changed

The guideline value for Ramakrishna Nagar 2nd Main Road has undergone several revisions over the years. In 2007, the value was Rs 1,500 per sq.ft, which increased to Rs 2,345 per sq.ft in 2017, marking a significant rise of 56%. The value then rose to Rs 3,500 per sq.ft in 2023, reflecting a 49% increase from the previous revision. The latest revision in 2024 set the guideline value at Rs 3,850 per sq.ft, a 10% increase from 2023.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2012 for this street. Overall, from 2007 to 2024, the guideline value has increased by 157%.

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 in this area is Rs 4,400 per sq.ft, placing Ramakrishna Nagar 2nd Main Road's 2024 value below that median.

Stamp duty and registration fee for property in Ramakrishna Nagar 2nd Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ramakrishna Nagar 2nd Main Road?

The Sub Registrar Office that covers Ramakrishna Nagar 2nd Main Road 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 process when buying or selling property in Velachery. It serves as a benchmark to determine the minimum value at which a property must be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property transaction occurs, the guideline value helps in assessing the financial obligations of both the buyer and the seller. It is essential for buyers to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Ramakrishna Nagar 2nd Main Road?

The current guideline value of Ramakrishna Nagar 2nd Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,500 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, representing an overall increase of 157% over the years.

What is the registration office for Ramakrishna Nagar 2nd Main Road?

The registration office for Ramakrishna Nagar 2nd Main Road is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in Velachery?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 38,50,000, the stamp duty at 7% would be Rs 2,69,500.

What does the guideline value indicate?

The guideline value indicates the minimum value at which property must be registered in a specific area. It helps in determining the applicable stamp duty and registration fees during property transactions.