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Guideline Value

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Guideline Value for Ramalingam Nagar Main Road(Shankardas 2nd Street)

₹2750/sq.ft.

The guideline value for Ramalingam Nagar Main Road(shankardas 2nd Street) in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 2750 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 10% change. 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 ₹2500 /sq.ft.
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 Main Road(shankardas 2nd Street)

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Ramalingam Nagar Main Road(Shankardas 2nd Street) guideline value

The current guideline value of Ramalingam Nagar Main Road(Shankardas 2nd Street) is Rs 2,750 per sq.ft, effective from 1 July 2024. This property is located in Madipakkam-1 village, under the Velacheri SRO, and falls under the Residential Class I Type - III land classification.

How the guideline value of Ramalingam Nagar Main Road(Shankardas 2nd Street) has changed

Over the years, the guideline value for Ramalingam Nagar Main Road(Shankardas 2nd Street) has seen significant changes. The 2017 revision set the value at Rs 1,675 per sq.ft, which increased to Rs 2,500 per sq.ft in the 2023 revision, marking a 49% increase. The most recent 2024 revision raised it further to Rs 2,750 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are a total of 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 these streets is Rs 2,750 per sq.ft, which is equal to the current value of Ramalingam Nagar Main Road(Shankardas 2nd Street).

Stamp duty and registration fee for property in Ramalingam Nagar Main Road(Shankardas 2nd Street)

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 fees 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.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ramalingam Nagar Main Road(Shankardas 2nd Street)?

The Sub Registrar Office that covers Ramalingam Nagar Main Road(Shankardas 2nd 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 in the registration process of property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state collects adequate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair valuation of the property. It is essential to consider this value along with the sale price, as the higher of the two will be used to calculate the applicable duties and fees.

Frequently asked questions

What is the current guideline value of Ramalingam Nagar Main Road(Shankardas 2nd Street)?

The current guideline value of Ramalingam Nagar Main Road(Shankardas 2nd Street) is Rs 2,750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 64% overall. The value rose from Rs 1,675 per sq.ft in 2017 to Rs 2,750 per sq.ft in 2024.

What is the land classification for Ramalingam Nagar Main Road(Shankardas 2nd Street)?

Ramalingam Nagar Main Road(Shankardas 2nd Street) falls under the Residential Class I Type - III land classification.

Where can I find the Sub Registrar Office for this area?

The Velacheri Sub Registrar Office covers Ramalingam Nagar Main Road(Shankardas 2nd Street) and is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the 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 instance, for a property valued at Rs 27,50,000, the stamp duty at 7% would amount to Rs 1,92,500.