Guideline Value

Corporate

Guideline Value for Ramakrishnaraj Nagar

₹2750/sq.ft.

The guideline value for Ramakrishnaraj Nagar 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 Ramakrishnaraj Nagar

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Ramakrishnaraj Nagar guideline value

The current guideline value of Ramakrishnaraj Nagar, located in Madipakkam-1 village under the Velacheri SRO, is Rs 2,750 per sq.ft as per the 2024 revision effective from 1 July 2024. This area is classified as Residential Class I Type - III.

How the guideline value of Ramakrishnaraj Nagar has changed

In the 2017 revision, the guideline value was Rs 1,675 per sq.ft. This figure saw a significant increase of 64% in the 2024 revision, bringing the current guideline value to Rs 2,750 per sq.ft. The register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for this street.

Thus, the only revisions available for Ramakrishnaraj Nagar are from 2017 and 2024, marking a notable rise in the guideline value over this period.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that have a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,750 per sq.ft, which is equal to the current figure for Ramakrishnaraj Nagar.

Stamp duty and registration fee for property in Ramakrishnaraj Nagar

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, calculated 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. Note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ramakrishnaraj Nagar?

The Velacheri Sub Registrar Office covers Ramakrishnaraj Nagar, 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

The guideline value plays a crucial role during the registration of property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings.

Frequently asked questions

What is the current guideline value of Ramakrishnaraj Nagar?

The current guideline value of Ramakrishnaraj Nagar is Rs 2,750 per sq.ft as per the 2024 revision effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased from Rs 1,675 per sq.ft to Rs 2,750 per sq.ft, representing a change of 64%.

What is the median guideline value for streets in Madipakkam-1?

The median guideline value for streets in Madipakkam-1 is Rs 2,750 per sq.ft, which is the same as the current figure for Ramakrishnaraj Nagar.

What are the stamp duty and registration fees for property in Ramakrishnaraj Nagar?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,92,500, and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles registrations for Ramakrishnaraj Nagar?

The Velacheri Sub Registrar Office handles registrations for Ramakrishnaraj Nagar, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.