Guideline Value for Ramalingam nagar 2nd Street

Ramalingam nagar 2nd Street guideline value

The current guideline value of Ramalingam nagar 2nd 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, with a land classification of Residential Class I Type - III.

How the guideline value of Ramalingam nagar 2nd Street has changed

The guideline value for Ramalingam nagar 2nd Street has seen significant changes over the years. The 2017 revision set the value at Rs 1,675 per sq.ft. With the 2024 revision, the guideline value increased to Rs 2,750 per sq.ft, reflecting 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. This means that the only available revisions for consideration are from 2017 and 2024.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, which is equal to the guideline value of Ramalingam nagar 2nd Street.

• Ramalingam Nagar 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Ramalingam Nagar Extension: Rs 2,750 per sq.ft (2024)
• Ramalingam Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Ramalingam Nagar Extn 1st Street: Rs 2,750 per sq.ft (2024)
• Ramalingam Nagar 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Ramalingam Nagar Main Road: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Ramalingam nagar 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 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, resulting in a total of 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 2nd Street?

The Sub Registrar Office that covers Ramalingam nagar 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 details.

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

The guideline value plays a crucial role during the registration of property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees applicable to a property sale or purchase.

When buying or selling property, the guideline value is referenced to ensure that the transaction is registered at a fair value, which helps in maintaining transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Ramalingam nagar 2nd Street?

The current guideline value of Ramalingam nagar 2nd 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 from Rs 1,675 per sq.ft to Rs 2,750 per sq.ft, which is a change of +64%.

Which Sub Registrar Office covers Ramalingam nagar 2nd Street?

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

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2% of the guideline value or sale price.

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 guideline value for Ramalingam nagar 2nd Street.