Guideline Value

Corporate

Guideline Value for Ramakrishna Nagar, Manikavasagar Street

₹2750/sq.ft.

The guideline value for Ramakrishna Nagar, Manikavasagar Street in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 2750 per sq.ft, effective 1 July 2024. The land classification is Residential Class I Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madipakkam-1

Village

Velacheri

SRO

Residential Class I Type - III
History
Period Guideline Value
From 1-7-2024 ₹2750 /sq.ft.
From 1-4-2023 N/A
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
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 Ramakrishna Nagar, Manikavasagar Street

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Ramakrishna Nagar, Manikavasagar Street guideline value

The current guideline value for Ramakrishna Nagar, Manikavasagar Street is Rs 2,750 per sq.ft. This street is located in Madipakkam-1 village, under the Velacheri SRO, and is classified as Residential Class I Type - III.

How the guideline value of Ramakrishna Nagar, Manikavasagar Street has changed

The guideline value for Ramakrishna Nagar, Manikavasagar Street has seen significant changes over the years. The 2017 revision recorded a guideline value of Rs 1,675 per sq.ft, which was then revised to Rs 2,750 per sq.ft in 2024, marking an increase of 64% over this period. Notably, the register has no figures for this street for the years 2023, 2012, 2007, 2003, and 2002.

From 2017 to 2024, the increase in the guideline value reflects a substantial rise in the valuation of properties in this area. The current figure aligns with the median guideline value of Rs 2,750 per sq.ft for the 1,823 streets in Madipakkam-1 under the Velacheri SRO, which range from Rs 1,650 to Rs 5,500 per sq.ft.

Guideline values in Madipakkam-1

In Madipakkam-1, the guideline values vary significantly, with the median set at Rs 2,750 per sq.ft. Ramakrishna Nagar, Manikavasagar Street's 2024 figure matches this median, indicating its position within the broader valuation landscape of the village.

Stamp duty and registration fee for property in Ramakrishna Nagar, Manikavasagar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total charges to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramakrishna Nagar, Manikavasagar Street?

The Sub Registrar Office that covers Ramakrishna Nagar, Manikavasagar 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

When buying or selling property in Madipakkam-1, the guideline value serves as a reference point for determining the applicable stamp duty and registration fees. This value is crucial for both buyers and sellers to understand the financial implications of property transactions.

At the time of registration, the guideline value ensures that the transaction is recorded accurately, reflecting the agreed-upon price or the guideline value, whichever is higher. This process helps maintain transparency and standardization in property dealings within the area.

Frequently asked questions

What is the current guideline value of Ramakrishna Nagar, Manikavasagar Street?

The current guideline value of Ramakrishna Nagar, Manikavasagar Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,675 per sq.ft to Rs 2,750 per sq.ft in 2024, reflecting a 64% rise in valuation.

What are the other streets with the same guideline value in Madipakkam-1?

Other streets in Madipakkam-1, such as RamaKrishna Raj 5th Street, Ramakrishnaraji nagar 1st Street, and others, also share the same guideline value of Rs 2,750 per sq.ft for 2024.

What is the role of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It is essential for ensuring that the transaction is recorded accurately according to the prevailing rates.

Where can I find the Sub Registrar Office for Ramakrishna Nagar?

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