Guideline Value for Ramamoorthy Avenue / Extension

Ramamoorthy Avenue / Extension guideline value

The current guideline value of Ramamoorthy Avenue / Extension is Rs 2,970 per sq.ft, effective from the 2024 revision. This street is located in Mogalivakkam village, governed by the Kunrathur SRO, and is classified as Residential Special Type - I.

How the guideline value of Ramamoorthy Avenue / Extension has changed

The guideline value for Ramamoorthy Avenue / Extension has undergone several revisions over the years. The earliest recorded figure is from 2007, where it was Rs 600 per sq.ft. This value saw a significant increase to Rs 2,700 per sq.ft in 2012, marking a 350% rise. However, it then decreased to Rs 1,809 per sq.ft in 2017, which was a decline of 33%. Following this, the value increased to Rs 2,700 per sq.ft in 2023, and then further to Rs 2,970 per sq.ft in 2024, representing a 10% increase.

Notably, there are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 395%.

Guideline values in Mogalivakkam

In Mogalivakkam, there are 98 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 2,530 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 2,970 per sq.ft, which is the same as the current figure for Ramamoorthy Avenue / Extension.

• Ramakrishnapuram: Rs 3,520 per sq.ft (2024)
• Rajeswari Nagar Phase II: Rs 2,970 per sq.ft (2024)
• Rajambal Nagar: Rs 2,970 per sq.ft (2024)
• R.G.L. Colony Phase III: Rs 2,970 per sq.ft (2024)
• Sabari Nagar: Rs 2,970 per sq.ft (2024)
• Sabari Nagar Extension: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in Ramamoorthy Avenue / Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 2,970 per sq.ft, the total guideline value would be Rs 29,70,000. The stamp duty at 7% would amount to Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, resulting in a total of Rs 2,67,300. 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 for more detailed calculations.

Which Sub Registrar Office covers Ramamoorthy Avenue / Extension?

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

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mogalivakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value or the sale price is considered, whichever is higher, to calculate the necessary fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Ramamoorthy Avenue / Extension?

The current guideline value of Ramamoorthy Avenue / Extension is Rs 2,970 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, representing an overall increase of 395% over the years.

What is the registration office for Ramamoorthy Avenue / Extension?

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

How is stamp duty calculated for properties in this area?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 2,07,900.

What are the other streets with similar guideline values in Mogalivakkam?

Other streets in Mogalivakkam with similar guideline values include Rajeswari Nagar Phase II, Rajambal Nagar, R.G.L. Colony Phase III, Sabari Nagar, and Sabari Nagar Extension, all at Rs 2,970 per sq.ft for 2024.