Guideline Value for Ramalingam Nagar Extension

Ramalingam Nagar Extension guideline value

The current guideline value of Ramalingam Nagar Extension is Rs 2,750 per sq.ft, effective from 1 July 2024. This property is located in Madipakkam-1 village under the Velacheri SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Ramalingam Nagar Extension has changed

The guideline value for Ramalingam Nagar Extension has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,750 per sq.ft, a significant increase from Rs 1,675 per sq.ft in the 2017 revision. This change represents a rise of 64% over the seven-year period. Notably, the register has no figure for this street in the years 2023, 2012, 2007, 2003, and 2002.

Prior to the 2017 revision, the guideline value for this street was not recorded in the register, indicating a lack of available data for those years. The 2024 figure aligns with the median guideline value of Rs 2,750 per sq.ft for 1823 streets in Madipakkam-1 under the Velacheri SRO, which range from Rs 1,650 to Rs 5,500 per sq.ft.

Guideline values in Madipakkam-1

In Madipakkam-1, the guideline values for various streets reflect a range of Rs 1,650 to Rs 5,500 per sq.ft, with the median value being Rs 2,750 per sq.ft. Ramalingam Nagar Extension's 2024 guideline value matches this median, indicating its position within the local market.

• Ramalingam nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Ramalingam Nagar Extn 1st Street: Rs 2,750 per sq.ft (2024)
• Ramalingam Nagar 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Ramalingam Nagar Main Road: Rs 2,750 per sq.ft (2024)
• Ramalingam Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Ramalingam Nagar Main Road, Balaji Nagar III: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Ramalingam Nagar Extension

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 to 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 information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramalingam Nagar Extension?

The Sub Registrar Office that covers Ramalingam Nagar Extension is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When engaging in property transactions, it is essential to understand that the guideline value can influence the overall costs involved in the registration process. Buyers and sellers should be aware of the current guideline values to ensure accurate financial planning.

Frequently asked questions

What is the current guideline value of Ramalingam Nagar Extension?

The current guideline value of Ramalingam Nagar Extension 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 rise of 64%.

Are there any years without recorded guideline values for Ramalingam Nagar Extension?

Yes, the register has no figures for Ramalingam Nagar Extension in the years 2023, 2012, 2007, 2003, and 2002.

What is the land classification for Ramalingam Nagar Extension?

The land classification for Ramalingam Nagar Extension is Residential Class I Type - III.

Where can I find the Velacheri Sub Registrar Office?

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