Guideline Value for Ramalingam Nagar Main Road

Ramalingam Nagar Main Road guideline value

The current guideline value of Ramalingam Nagar Main Road 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 Ramalingam Nagar Main Road has changed

The guideline value for Ramalingam Nagar Main Road has undergone several revisions over the years. The earliest recorded revision is from 2017, where the guideline value was 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 change of +64% from the 2017 figure.

There are no figures available for the revisions in 2023, 2012, 2007, 2003, and 2002 for this street. The lack of figures indicates that the guideline value was not established for these years.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that have 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 current value of Ramalingam Nagar Main Road.

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

Stamp duty and registration fee for property in Ramalingam Nagar 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 cost 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, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramalingam Nagar Main Road?

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

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

The guideline value plays a crucial role in property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with legal requirements.

When registering a property, the guideline value is used to assess the applicable charges. This ensures that both buyers and sellers are aware of the financial implications associated with the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Ramalingam Nagar Main Road?

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

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 1,675 per sq.ft to Rs 2,750 per sq.ft in 2024, which is a change of +64%.

Are there any years without a guideline value for this street?

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

What is the median guideline value for streets in Madipakkam-1?

The median guideline value for streets in Madipakkam-1 is Rs 2,750 per sq.ft, which is the same as the current value for Ramalingam Nagar Main Road.

Where is the Velacheri Sub Registrar Office located?

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