Guideline Value for Ramamoorthy Avenue Lane

Ramamoorthy Avenue Lane guideline value

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

How the guideline value of Ramamoorthy Avenue Lane has changed

The guideline value for Ramamoorthy Avenue Lane has seen several revisions over the years. In the 2012 revision, the value was set at Rs 5,800 per sq.ft. This decreased to Rs 3,886 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49% to reach Rs 5,800 per sq.ft. The most recent revision in 2024 has further increased the value to Rs 6,380 per sq.ft, which is a 10% rise from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Porur

In Porur, 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 guideline value for these streets is Rs 3,960 per sq.ft, placing Ramamoorthy Avenue Lane's 2024 value above the median.

• Ramamoorthy Avenue Main Road: Rs 6,380 per sq.ft (2024)
• Ramamoorthy Avenue 2nd Street: Rs 6,380 per sq.ft (2024)
• Ramamoorthy Avenue 1st Street: Rs 6,380 per sq.ft (2024)
• Ramamoorthy Avenue: 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 Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 6,380 per sq.ft, the total guideline value would be Rs 63,80,000. The stamp duty at 7% would amount to Rs 4,46,600, and the registration fee at 2% would be Rs 1,27,600, bringing the total cost for these fees to Rs 5,74,200. Please note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramamoorthy Avenue Lane?

The Sub Registrar Office that covers Ramamoorthy Avenue Lane 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 Porur

The guideline value is an essential reference for determining the value of property during registration in Porur. It is used to calculate the stamp duty and registration fees that buyers and sellers must pay when completing a property transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This helps maintain transparency and accountability in real estate transactions within the region.

Frequently asked questions

What is the current guideline value of Ramamoorthy Avenue Lane?

The current guideline value of Ramamoorthy Avenue Lane 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 back 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 for Ramamoorthy Avenue Lane?

Ramamoorthy Avenue Lane is classified as Commercial Class I Type - I.

Where can I find the registration office for properties in this area?

The registration office for properties in Ramamoorthy Avenue Lane 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 Lane?

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