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Guideline Value

Corporate

Guideline Value for Ramamoorthy Nagar 2nd Street

₹2750/sq.ft.

The guideline value for Ramamoorthy Nagar 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 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 2nd Street

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Ramamoorthy Nagar 2nd Street guideline value

The current guideline value for Ramamoorthy 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 and is classified as Residential Class I Type - III.

How the guideline value of Ramamoorthy Nagar 2nd Street has changed

The guideline value for Ramamoorthy Nagar 2nd Street has undergone several revisions over the years. The register does not contain figures for the years 2002, 2003, 2007, 2012, and 2017. The most recent revision in 2023 set the value at Rs 2,500 per sq.ft, which increased to Rs 2,750 per sq.ft in the 2024 revision, marking a change of +10%.

In summary, the 2024 revision reflects a significant update from the previous year. The current value of Rs 2,750 per sq.ft aligns with the median guideline value for Madipakkam-1, which ranges from Rs 1,650 to Rs 5,500 per sq.ft.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO that carry a 2024 guideline value. The guideline value for Ramamoorthy Nagar 2nd Street is equal to the median value of Rs 2,750 per sq.ft. Below are the guideline values for other streets in Madipakkam-1:

Stamp duty and registration fee for property in Ramamoorthy 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, while the registration fee at 2% would be Rs 55,000, bringing the total fees together to Rs 2,47,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ramamoorthy Nagar 2nd Street?

The Sub Registrar Office that covers Ramamoorthy 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 information.

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

The guideline value is a crucial factor in property transactions in Madipakkam-1, as it determines the minimum value at which a property can be registered. When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees applicable to the transaction.

It is essential for buyers and sellers to be aware of the guideline value to ensure compliance with local regulations and to avoid any potential disputes during the registration process. Understanding the guideline value helps in making informed decisions during property transactions.

Frequently asked questions

What is the current guideline value of Ramamoorthy Nagar 2nd Street?

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

How has the guideline value changed over the years?

The guideline value for Ramamoorthy Nagar 2nd Street was Rs 2,500 per sq.ft in 2023 and increased to Rs 2,750 per sq.ft in 2024, reflecting a change of +10%. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

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. This value is derived from the range of guideline values that vary from Rs 1,650 to Rs 5,500 per sq.ft.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Ramamoorthy Nagar 2nd Street?

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