Guideline Value

Corporate

Guideline Value for Ramalingam Nagar 1st Street

₹2750/sq.ft.

The guideline value for Ramalingam Nagar 1st 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 Ramalingam Nagar 1st Street

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Ramalingam Nagar 1st Street guideline value

The current guideline value of Ramalingam Nagar 1st 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, and is classified as Residential Class I Type - III.

How the guideline value of Ramalingam Nagar 1st Street has changed

The guideline value for Ramalingam Nagar 1st Street has undergone several revisions. The 2017 revision set the value at Rs 1,675 per sq.ft. With the latest revision in 2024, the value increased to Rs 2,750 per sq.ft, marking a significant rise of 64% over this period.

There are no figures available for the years 2023, 2012, 2007, 2003, and 2002 in the register for this street. Thus, the only revisions with recorded figures are from 2017 and 2024.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets that carry 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 2024 figure for Ramalingam Nagar 1st Street.

Stamp duty and registration fee for property in Ramalingam Nagar 1st 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, and the registration fee at 2% would be Rs 55,000, making the total charges 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 detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramalingam Nagar 1st Street?

The Sub Registrar Office that covers Ramalingam Nagar 1st 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 information.

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 reference point for determining the stamp duty and registration fees that must be paid when a property transaction occurs.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the government. This process helps maintain transparency in real estate transactions.

Frequently asked questions

What is the current guideline value of Ramalingam Nagar 1st Street?

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

How much has the guideline value changed over the years?

From the 2017 revision to the 2024 revision, the guideline value increased from Rs 1,675 per sq.ft to Rs 2,750 per sq.ft, which is a 64% increase. There are no figures available for the years 2023, 2012, 2007, 2003, and 2002.

What is the classification of land on Ramalingam Nagar 1st Street?

Ramalingam Nagar 1st Street is classified as Residential Class I Type - III, according to the guidelines set by the Velacheri SRO.

What are the stamp duty and registration fees for a property in this area?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 27,50,000, the total stamp duty and registration fees would be Rs 2,47,500.

Where is the Sub Registrar Office for Ramalingam Nagar 1st Street located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. This office handles property registrations for Ramalingam Nagar 1st Street.