Guideline Value for Ramamoorthy Nagar 3rd Street

Ramamoorthy Nagar 3rd Street guideline value

The current guideline value of Ramamoorthy Nagar 3rd 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. The land classification for this area is Residential Class I Type - III.

How the guideline value of Ramamoorthy Nagar 3rd Street has changed

The guideline value register has no figures for Ramamoorthy Nagar 3rd Street for the years 2002, 2003, 2007, 2012, 2017, and 2023. The most recent revision is from 2024, which sets the guideline value at Rs 2,750 per sq.ft.

As there are no figures available for the previous revisions, there are no changes to report between the revisions listed. The 2024 figure aligns with the median guideline value for residential streets in Madipakkam-1.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. Ramamoorthy Nagar 3rd Street's 2024 figure matches this median.

• Ramamoorthy Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Ramamoorthy Nagar 4th Street: Rs 2,750 per sq.ft (2024)
• Ramamoorthy Nagar 2nd Main Road: Rs 2,750 per sq.ft (2024)
• Ramamoorthy Nagar 1st street: Rs 2,750 per sq.ft (2024)
• Ramamoorthy Nagar 1st Main Road: Rs 2,750 per sq.ft (2024)
• Ramamoorthy Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Ramamoorthy Nagar 3rd 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, leading to a total cost of Rs 2,47,500. 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 3rd Street?

The Sub Registrar Office that covers Ramamoorthy Nagar 3rd 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 serves as a benchmark for property transactions in Madipakkam-1. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is documented at a recognized value.

It is essential to consider the guideline value when planning a property transaction, as it affects the overall cost. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations during registration.

Frequently asked questions

What is the current guideline value of Ramamoorthy Nagar 3rd Street?

The current guideline value of Ramamoorthy Nagar 3rd Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

What is the land classification for Ramamoorthy Nagar 3rd Street?

The land classification for Ramamoorthy Nagar 3rd Street is Residential Class I Type - III.

How many streets are there in Madipakkam-1 with a 2024 guideline value?

There are 1,823 streets in Madipakkam-1 that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 5,500 per sq.ft.

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, while the registration fee is charged at 2%. For example, a 1,000 sq.ft plot at Rs 2,750 per sq.ft would incur a total cost of Rs 2,47,500 in fees.

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.