Guideline Value for Ramamoorthy Avenue 1st Street

Ramamoorthy Avenue 1st Street guideline value

The current guideline value of Ramamoorthy Avenue 1st Street is Rs 6,380 per sq.ft, effective from 1 July 2024. This street is located in Porur village under the Kunrathur SRO, classified as Commercial Class I Type - I.

How the guideline value of Ramamoorthy Avenue 1st Street has changed

The guideline value for Ramamoorthy Avenue 1st Street has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 5,800 per sq.ft. In 2017, this value decreased by 33% to Rs 3,886 per sq.ft. The value then rose significantly to Rs 5,800 per sq.ft in 2023, marking a 49% increase. The most recent revision in 2024 shows a further increase of 10%, bringing the value to Rs 6,380 per sq.ft.

It is important to note that the register does not have figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Porur

In Porur village, there are 530 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 2,860 to Rs 6,380 per sq.ft. The median value among these streets is Rs 3,960 per sq.ft, indicating that Ramamoorthy Avenue 1st Street's 2024 figure is above this median.

• Ramamoorthy Avenue 2nd Street: Rs 6,380 per sq.ft (2024)
• Ramamoorthy Avenue: Rs 6,380 per sq.ft (2024)
• Ramamoorthy Avenue Lane: Rs 6,380 per sq.ft (2024)
• Ramamoorthy Avenue Main Road: Rs 6,380 per sq.ft (2024)
• Ramanatha Eswarar Nagar: Rs 3,520 per sq.ft (2024)
• Ramakrishna Street: Rs 3,960 per sq.ft (2024)

Stamp duty and registration fee for property in Ramamoorthy Avenue 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,380 per sq.ft, the total guideline value amounts to Rs 63,80,000. The stamp duty at 7% would be Rs 4,46,600, and the registration fee at 2% would be Rs 1,27,600, resulting in a total of Rs 5,74,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Ramamoorthy Avenue 1st Street?

The Sub Registrar Office that covers Ramamoorthy Avenue 1st Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Porur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ramamoorthy Avenue 1st Street?

The current guideline value of Ramamoorthy Avenue 1st Street is Rs 6,380 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 5,800 per sq.ft in 2012 to Rs 3,886 per sq.ft in 2017, then increased to Rs 5,800 per sq.ft in 2023, and finally to Rs 6,380 per sq.ft in 2024.

What is the land classification of Ramamoorthy Avenue 1st Street?

Ramamoorthy Avenue 1st Street is classified as Commercial Class I Type - I.

Where can I find the registration office for Ramamoorthy Avenue 1st Street?

The registration office for Ramamoorthy Avenue 1st Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in Ramamoorthy Avenue 1st Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 4,46,600.