Guideline Value

Corporate

Guideline Value for Ramamoorthy Nagar 1st Main Road

₹2750/sq.ft.

The guideline value for Ramamoorthy Nagar 1st Main Road 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 N/A
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 Ramamoorthy Nagar 1st Main Road

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Ramamoorthy Nagar 1st Main Road guideline value

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

How the guideline value of Ramamoorthy Nagar 1st Main Road has changed

The guideline value for Ramamoorthy Nagar 1st Main Road has seen several revisions over the years. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 2,500 per sq.ft, which increased to Rs 2,750 per sq.ft in the 2024 revision, reflecting a change of +10%.

Thus, the most recent figures show a clear upward trend from Rs 2,500 in 2023 to Rs 2,750 in 2024. The current 2024 figure aligns with the median guideline value of Rs 2,750 per sq.ft for the village of Madipakkam-1.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for the village is Rs 2,750 per sq.ft, which is equal to the current value of Ramamoorthy Nagar 1st Main Road.

Stamp duty and registration fee for property in Ramamoorthy Nagar 1st 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 would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, while 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.

You can use our stamp duty and registration fee calculator for more accurate calculations based on your property details.

Which Sub Registrar Office covers Ramamoorthy Nagar 1st Main Road?

The Sub Registrar Office that covers Ramamoorthy Nagar 1st Main Road 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 critical factor in the registration of property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these fees are calculated based on the established value of the property.

When buying or selling property, the guideline value helps in assessing the legal value of the transaction, which is essential for compliance with local regulations. It is advisable to consult the guideline value register to ensure accurate calculations during the registration process.

Frequently asked questions

What is the current guideline value of Ramamoorthy Nagar 1st Main Road?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024, reflecting a +10% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What are the other streets in Madipakkam-1 with the same guideline value?

Other streets in Madipakkam-1, such as Ramamoorthy Nagar, Ramamoorthy Nagar 1st street, Ramamoorthy Nagar 2nd Main Road, Ramamoorthy Nagar 2nd Street, Ramamoorthy Nagar 3rd Street, and Ramamoorthy Nagar 4th Street, all share the same guideline value of Rs 2,750 per sq.ft for 2024.

What is the process for calculating stamp duty and registration fees?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is set at 2%. This ensures that the fees reflect the true value of the property being registered.

Where can I find the Sub Registrar Office for Ramamoorthy Nagar 1st Main Road?

The Velacheri Sub Registrar Office, which covers Ramamoorthy Nagar 1st Main Road, is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.