Guideline Value for Sadasivam Nagar/Ram Nagar North Extension / Sivaraman Street,

Sadasivam Nagar/Ram Nagar North Extension / Sivaraman Street, guideline value

The current guideline value for Sadasivam Nagar/Ram Nagar North Extension / Sivaraman Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, and it falls under the Residential Class I Type - I land classification.

How the guideline value of Sadasivam Nagar/Ram Nagar North Extension / Sivaraman Street, has changed

The guideline value for this street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 3,850 per sq.ft, a significant increase from the 2017 revision, which was Rs 2,345 per sq.ft. This marks a change of +64% from 2017 to 2024. It is important to note that the register has no figures for this street for the years 2023, 2012, 2007, 2003, and 2002.

In the 2017 revision, the guideline value was Rs 2,345 per sq.ft. The previous revisions do not have figures available for this street, which indicates that the value has been updated only in the specified years. The increase in the guideline value reflects the changes in the real estate landscape in the area.

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, placing Sadasivam Nagar/Ram Nagar North Extension / Sivaraman Street above this median.

• Sadasivam Nagar, Ram Nagar North Extension, Rajagopalapuram Extension: Rs 3,850 per sq.ft (2024)
• Sadasivam Nagar, Ram Nagar South: Rs 2,750 per sq.ft (2024)
• Sadasivam Nagar, Ram Nagar Laout South Main Road: Rs 2,750 per sq.ft (2024)
• Sadasivam Nagr Extn: Rs 3,850 per sq.ft (2024)
• Sadasivam Nagar, Rajagopalapuram North Nagar Extension: Rs 3,850 per sq.ft (2024)
• Sadasivam Nagar, Rajagopalapuram Extension: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Sadasivam Nagar/Ram Nagar North Extension / Sivaraman Street,

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total cost for these fees to Rs 3,46,500. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sadasivam Nagar/Ram Nagar North Extension / Sivaraman Street,?

The Sadasivam Nagar/Ram Nagar North Extension / Sivaraman Street falls under 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 is a critical factor during the registration of property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the correct amount of revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Sadasivam Nagar/Ram Nagar North Extension / Sivaraman Street?

The current guideline value for Sadasivam Nagar/Ram Nagar North Extension / Sivaraman Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 2,345 per sq.ft in 2017 to Rs 3,850 per sq.ft in 2024, reflecting an increase of +64% over this period.

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

Yes, the register has no figures for Sadasivam Nagar/Ram Nagar North Extension / Sivaraman Street for the years 2023, 2012, 2007, 2003, and 2002.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Sadasivam Nagar/Ram Nagar North Extension / Sivaraman Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for this area?

The Velacheri Sub Registrar Office covers Sadasivam Nagar/Ram Nagar North Extension / Sivaraman Street and is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.