Guideline Value

Corporate

Guideline Value for Ramakrishna Nagar

₹3850/sq.ft.

The guideline value for Ramakrishna Nagar in Velachery village (Velacheri SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. 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 N/A
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 ₹275 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹245 /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 Ramakrishna Nagar

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Ramakrishna Nagar guideline value

The current guideline value of Ramakrishna Nagar, located in Velachery village under the Velacheri SRO, is Rs 3,850 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - III.

How the guideline value of Ramakrishna Nagar has changed

The guideline value of Ramakrishna Nagar has seen significant changes over the years. In 2002, the value was Rs 245 per sq.ft, which increased to Rs 275 per sq.ft in 2003, marking a 12% rise. The following revision in 2007 saw a substantial jump to Rs 1,500 per sq.ft, reflecting a remarkable increase of 445%. The value continued to rise, reaching Rs 2,345 per sq.ft in 2017, which was a 56% increase from the previous revision. The most recent revision in 2024 brought the guideline value to Rs 3,850 per sq.ft, representing a 64% increase from 2017.

It is important to note that there are no registered figures for the years 2012 and 2023 for this street. Overall, from 2002 to 2024, the guideline value has increased by 1,471%.

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, with a median value of Rs 4,400 per sq.ft. The guideline value for Ramakrishna Nagar is below this median.

Stamp duty and registration fee for property in Ramakrishna Nagar

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 is charged at 7%, resulting in Rs 2,69,500, while the registration fee is charged at 2%, amounting to Rs 77,000. The total cost for these fees together is Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ramakrishna Nagar?

The Sub Registrar Office that covers Ramakrishna Nagar 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 crucial factor in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both the buyer and seller are aware of the costs involved. This process helps maintain transparency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Ramakrishna Nagar?

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

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 245 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, representing an overall increase of 1,471%.

What are the stamp duty and registration fees for properties in Ramakrishna Nagar?

For a 1,000 sq.ft plot, the stamp duty is Rs 2,69,500 and the registration fee is Rs 77,000, totaling Rs 3,46,500 based on the current guideline value.

Which Sub Registrar Office covers Ramakrishna Nagar?

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

Are there other streets in Velachery with the same guideline value?

Yes, several other streets in Velachery have the same guideline value of Rs 3,850 per sq.ft, including Ramakrishna Nagar 1st Cross Street, Ramakrishna Nagar 1st Main Road, and others.