Guideline Value for RAMAMOORTHI STREET

Ramamoorthi Street guideline value

The current guideline value of Ramamoorthi Street in Nemilicherry village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class I Type - III.

How the guideline value of Ramamoorthi Street has changed

The guideline value for Ramamoorthi Street has seen several revisions over the years. In 2012, the value was set at Rs 2,200 per sq.ft. This was followed by a decrease to Rs 1,474 per sq.ft in 2017, marking a decline of 33%. Subsequently, the value increased to Rs 2,000 per sq.ft in 2023, reflecting a rise of 36%. The latest revision in 2024 has further increased the value to Rs 2,200 per sq.ft, which is a 10% increase from the previous year.

The register has no figures for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value remains unchanged at Rs 2,200 per sq.ft.

Guideline values in Nemilicherry

In Nemilicherry village, there are 172 streets under the Pallavaram SRO, with 2024 guideline values ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,160 per sq.ft, placing Ramamoorthi Street's 2024 figure above this median.

• Ramaswamy Street: Rs 2,420 per sq.ft (2024)
• Ranganathan Street: Rs 2,160 per sq.ft (2024)
• Rajarajeshwari Street: Rs 2,420 per sq.ft (2024)
• Ravi Street: Rs 2,200 per sq.ft (2024)
• Rayapettai Lakepan Road: Rs 2,200 per sq.ft (2024)
• Rk Nagar: Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in Ramamoorthi Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramamoorthi Street?

The Sub Registrar Office covering Ramamoorthi Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Nemilicherry

When buying or selling property in Nemilicherry, the guideline value is crucial as it determines the minimum value at which the property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory during the registration process.

The guideline value ensures transparency in property transactions and helps in preventing undervaluation of properties. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Ramamoorthi Street?

The current guideline value of Ramamoorthi Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally back to Rs 2,200 per sq.ft in 2024.

What are the other streets in Nemilicherry with their guideline values?

Other streets in Nemilicherry include Ramaswamy Street at Rs 2,420 per sq.ft, Ranganathan Street at Rs 2,160 per sq.ft, Rajarajeshwari Street at Rs 2,420 per sq.ft, Ravi Street at Rs 2,200 per sq.ft, Rayapettai Lakepan Road at Rs 2,200 per sq.ft, and Rk Nagar at Rs 2,160 per sq.ft.

What is the registration fee for property in Ramamoorthi Street?

The registration fee for property in Ramamoorthi Street is calculated at 2% of the guideline value. For a property valued at Rs 22,00,000, the registration fee would be Rs 44,000.

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

The Sub Registrar Office for Ramamoorthi Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.