Guideline Value for RAMAMOORTHY AVENUE

Ramamoorthy Avenue guideline value

The current guideline value of Ramamoorthy Avenue is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Moonramkattalai village, under the Kunrathur SRO, classified as Residential Class II Type - I.

How the guideline value of Ramamoorthy Avenue has changed

The guideline value for Ramamoorthy Avenue has seen significant changes 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% rise. The most recent revision in 2024 brought the value to Rs 2,750 per sq.ft, representing 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 this street in the revisions of 2002, 2003, 2007, and 2012.

Guideline values in Moonramkattalai

In Moonramkattalai, there are 43 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 650 to Rs 2,750 per sq.ft, with a median value of Rs 650 per sq.ft. Ramamoorthy Avenue's 2024 guideline value is significantly above this median.

• R.M.P. Nagar: Rs 1,800 per sq.ft (2024)
• Road Street: Rs 1,000 per sq.ft (2024)
• Pooja Avenue Annex: Rs 2,750 per sq.ft (2024)
• Poniyamman Koil Street/santhu: Rs 650 per sq.ft (2024)
• Poniyamman Koil Street: Rs 650 per sq.ft (2024)
• Pillaiyar koil Street: Rs 650 per sq.ft (2024)

Stamp duty and registration fee for property in Ramamoorthy Avenue

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, bringing the total to Rs 2,47,500. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Ramamoorthy Avenue?

The Sub Registrar Office that covers Ramamoorthy Avenue is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Moonramkattalai. During the registration process, the guideline value is used to determine the stamp duty and registration fees that must be paid. Buyers and sellers should be aware that these fees are calculated based on the higher of the guideline value or the actual sale price of the property.

Understanding the guideline value is essential for both buyers and sellers, as it ensures compliance with legal requirements during property transactions. It also helps in assessing the financial implications of buying or selling property in the area.

Frequently asked questions

What is the current guideline value of Ramamoorthy Avenue?

The current guideline value of Ramamoorthy Avenue is Rs 2,750 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 1,675 per sq.ft in 2017 to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024, marking a total increase of 64% from 2017 to 2024.

What is the land classification for Ramamoorthy Avenue?

Ramamoorthy Avenue is classified as Residential Class II Type - I under the Kunrathur SRO.

Where can I find the registration office for Ramamoorthy Avenue?

The registration office for Ramamoorthy Avenue is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in Moonramkattalai?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 at a rate of 7%.