Guideline Value for Ramamoorthi Avenue

Ramamoorthi Avenue guideline value

The current guideline value of Ramamoorthi Avenue is Rs 2,750 per sq.ft. This street is located in Kolapakkam village, under the Pammal SRO, and is classified as Residential Class I Type - I.

How the guideline value of Ramamoorthi Avenue has changed

The guideline value for Ramamoorthi Avenue has undergone 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 2023, marking a significant rise of 49%. The latest revision in 2024 has further increased the value to Rs 2,750 per sq.ft, reflecting 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 registered figures for this street in the revisions from 2002, 2003, 2007, and 2012.

Guideline values in Kolapakkam

In Kolapakkam, there are 111 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 6,850 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Ramamoorthi Avenue's current guideline value above this median.

• Ramamoorthy Avenue Extn.: Rs 2,750 per sq.ft (2024)
• Ramakrishna Nagar Avenue: Rs 2,750 per sq.ft (2024)
• Ramakrishna Nagar Annex: Rs 3,290 per sq.ft (2024)
• Ramakrishna Nagar: Rs 2,750 per sq.ft (2024)
• Rajendran Nagar: Rs 6,850 per sq.ft (2024)
• Sabapathy Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Ramamoorthi Avenue

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 fees 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 the stamp duty and registration fee calculator to estimate your fees based on the property value.

Which Sub Registrar Office covers Ramamoorthi Avenue?

The Sub Registrar Office that covers Ramamoorthi Avenue is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kolapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately, reflecting the official value of the property as determined by the local authorities. This process helps maintain transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Ramamoorthi Avenue?

The current guideline value of Ramamoorthi Avenue is Rs 2,750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 1,675 per sq.ft to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 64%.

What are the stamp duty and registration fees for a property in Ramamoorthi Avenue?

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.

Where is the Pammal Sub Registrar Office located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

What is the significance of the guideline value in real estate transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that the official value of the property is recorded accurately and maintains transparency in real estate dealings.