Guideline Value for Ramalinga Nagar 8th Street

Ramalinga Nagar 8th Street guideline value

The current guideline value of Ramalinga Nagar 8th Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class I Type - III.

How the guideline value of Ramalinga Nagar 8th Street has changed

The guideline value for Ramalinga Nagar 8th Street has seen significant changes over the years. In the 2017 revision, the guideline value was Rs 1,675 per sq.ft. This figure increased to Rs 2,750 per sq.ft in the 2024 revision, marking a change of +64% from the previous revision.

There are no figures available for the years 2023, 2012, 2007, 2003, and 2002 in the register for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO carrying a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value is Rs 2,750 per sq.ft, which is equal to the current value of Ramalinga Nagar 8th Street.

• Ramalinga Nagar Extension, Nandanar Street: Rs 2,750 per sq.ft (2024)
• Ramalinga Nagar Extension, Shankarados Street: Rs 2,750 per sq.ft (2024)
• Ramalinga Nagar/Kuppusamy Street: Rs 2,750 per sq.ft (2024)
• Ramalinga Nagar, Sivasubramaniam Street, C.L.M.Bank Staff Colony: Rs 2,750 per sq.ft (2024)
• Ramalinga Nagar: Rs 2,750 per sq.ft (2024)
• Ramalinga (Sri)Nagar 1st Main Road: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Ramalinga Nagar 8th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000. Together, the total cost would be Rs 2,47,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Ramalinga Nagar 8th Street?

The Sub Registrar Office that covers Ramalinga Nagar 8th 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 further assistance.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor during property registration in Madipakkam-1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property transactions.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. It is essential for both buyers and sellers to be aware of the guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Ramalinga Nagar 8th Street?

The current guideline value of Ramalinga Nagar 8th Street 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 by +64%, from Rs 1,675 per sq.ft to Rs 2,750 per sq.ft in 2024.

Are there any years with no guideline value for this street?

Yes, the register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for Ramalinga Nagar 8th Street.

What is the registration office for Ramalinga Nagar 8th Street?

The registration office for Ramalinga Nagar 8th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in this area?

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 27,50,000, the stamp duty would be Rs 1,92,500 at 7%.