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Guideline Value

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Guideline Value for Ramalinga (Sri)Nagar 2nd Main Road

₹2750/sq.ft.

The guideline value for Ramalinga (sri)nagar 2nd Main Road 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 Ramalinga (sri)nagar 2nd Main Road

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Ramalinga (Sri)Nagar 2nd Main Road guideline value

The current guideline value for Ramalinga (Sri)Nagar 2nd Main Road is Rs 2,750 per sq.ft, effective from 1 July 2024. This road is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class I Type - III.

How the guideline value of Ramalinga (Sri)Nagar 2nd Main Road has changed

The guideline value for Ramalinga (Sri)Nagar 2nd Main Road has undergone several revisions. The 2017 revision set the value at Rs 1,675 per sq.ft. The most recent revision in 2024 has increased this to Rs 2,750 per sq.ft, marking a significant increase of 64% from the 2017 figure.

It is important to note that the register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for this street. Therefore, the only available figures are from the 2017 and 2024 revisions.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for the area is Rs 2,750 per sq.ft, which aligns with the current value for Ramalinga (Sri)Nagar 2nd Main Road.

Stamp duty and registration fee for property in Ramalinga (Sri)Nagar 2nd Main Road

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 to Rs 2,47,500. Please note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Ramalinga (Sri)Nagar 2nd Main Road?

The Sub Registrar Office that covers Ramalinga (Sri)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 Madipakkam-1

The guideline value is a crucial factor when buying or selling property in Madipakkam-1, as it determines the stamp duty and registration fees applicable during the transaction. Buyers and sellers must refer to the guideline value to ensure compliance with local regulations.

When registering a property, the guideline value serves as a benchmark for calculating the taxes owed. It is essential to understand that the guideline value may differ from the actual sale price, and the higher amount will be used for tax calculations.

Frequently asked questions

What is the current guideline value of Ramalinga (Sri)Nagar 2nd Main Road?

The current guideline value of Ramalinga (Sri)Nagar 2nd Main Road is Rs 2,750 per sq.ft, 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, which is a change of 64%.

Which Sub Registrar Office covers this area?

The Velacheri Sub Registrar Office covers Ramalinga (Sri)Nagar 2nd Main Road, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What are the stamp duty and registration fees for a property here?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

How is the guideline value determined for properties in Madipakkam-1?

The guideline value for properties in Madipakkam-1 is determined by the Registration Department's guideline value register, which considers various factors including land classification and previous revisions.