Guideline Value for Shankarados Street, Ramalinga Nagar Extension,

Shankarados Street, Ramalinga Nagar Extension, guideline value

The current guideline value of Shankarados Street, Ramalinga Nagar Extension, is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class I Type - III.

How the guideline value of Shankarados Street, Ramalinga Nagar Extension, has changed

In the 2017 revision, the guideline value was set at Rs 1,675 per sq.ft. This figure remained until the 2024 revision, which saw a significant increase of 64%, bringing the current guideline value to Rs 2,750 per sq.ft.

The register has no figures for the revisions in 2023, 2012, 2007, 2003, and 2002 for this street. Therefore, the only available revisions 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 guideline value for the area is Rs 2,750 per sq.ft, which is equal to the current figure for Shankarados Street.

• Shankardas 2nd Street, Ramalingam Nagar Main Road: Rs 2,750 per sq.ft (2024)
• Sethupathy Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Sethupathy Nagar, Bank of Baroda Colony: Rs 2,200 per sq.ft (2024)
• Sethupathy Nagar: Rs 2,200 per sq.ft (2024)
• Shanthi Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Shanthi Nagar 2nd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Shankarados Street, Ramalinga Nagar Extension,

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, making the total cost for these fees Rs 2,47,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Shankarados Street, Ramalinga Nagar Extension,?

The Sub Registrar Office that covers Shankarados Street, Ramalinga Nagar Extension, 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 within Madipakkam-1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential for buyers to be aware of this value to avoid overpaying and for sellers to set a realistic asking price.

Frequently asked questions

What is the current guideline value of Shankarados Street?

The current guideline value of Shankarados Street, Ramalinga Nagar Extension, 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 in 2024, which is a rise of 64%.

Are there any years without a guideline value for Shankarados Street?

Yes, the register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for Shankarados Street.

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 current figure for Shankarados Street.

Where can I find the Sub Registrar Office for Shankarados Street?

The Sub Registrar Office for Shankarados Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.