Guideline Value for Sivasubramaniam Street/Ramalingam Nagar

Sivasubramaniam Street/Ramalingam Nagar guideline value

The current guideline value of Sivasubramaniam Street/Ramalingam Nagar 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 Sivasubramaniam Street/Ramalingam Nagar has changed

The guideline value for Sivasubramaniam Street/Ramalingam Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 1,675 per sq.ft, which increased to Rs 2,500 per sq.ft in the 2023 revision, marking a 49% increase. The latest revision in 2024 has raised the value to Rs 2,750 per sq.ft, a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

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, which is the same as the guideline value for Sivasubramaniam Street/Ramalingam Nagar.

• Sivasubramaniam Street, C.L.M.Bank Staff Colony, Ramalinga Nagar: Rs 2,750 per sq.ft (2024)
• Sivasubramani Nagar 6th Main Road: Rs 2,750 per sq.ft (2024)
• Sivasubramaniyam Street: Rs 2,750 per sq.ft (2024)
• Sivaram (Sivaraman) Street, Ram Nagar North: Rs 3,850 per sq.ft (2024)
• Sivaraman Street, Ram Nagar North Extension, Sadasivam Nagar: Rs 3,850 per sq.ft (2024)
• Sivaraman Street, Ram Nagar: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Sivasubramaniam Street/Ramalingam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total 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 detailed calculations.

Which Sub Registrar Office covers Sivasubramaniam Street/Ramalingam Nagar?

The Sub Registrar Office that covers Sivasubramaniam Street/Ramalingam Nagar 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 when registering property transactions in Madipakkam-1. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value helps both buyers and sellers understand the baseline value of the property, aiding in negotiations and ensuring compliance with legal requirements during registration.

Frequently asked questions

What is the current guideline value for Sivasubramaniam Street/Ramalingam Nagar?

The current guideline value for Sivasubramaniam Street/Ramalingam Nagar 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 1,675 per sq.ft in 2017 to Rs 2,500 per sq.ft in 2023, and then to Rs 2,750 per sq.ft in 2024. This represents a total increase of 64% from 2017 to 2024.

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

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

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 based on the guideline value or the sale price, whichever is higher.

What is the land classification for Sivasubramaniam Street/Ramalingam Nagar?

Sivasubramaniam Street/Ramalingam Nagar is classified as Residential Class I Type - III under the guideline value register.