Guideline Value for Ramamoorthy Avenue

Ramamoorthy Avenue guideline value

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

How the guideline value of Ramamoorthy Avenue has changed

The guideline value for Ramamoorthy Avenue has seen significant changes over the years. In 2002, the value was Rs 294 per sq.ft, which increased to Rs 409 per sq.ft in 2003, marking a 39% rise. The value continued to rise, reaching Rs 750 per sq.ft in 2007, a substantial increase of 83%. From 2007 to 2012, the value surged to Rs 5,800 per sq.ft, reflecting a remarkable 673% increase. However, from 2012 to 2017, it dropped to Rs 3,886 per sq.ft, showing a decrease of 33%. The value then rose again to Rs 5,800 per sq.ft in 2023, before reaching the current value of Rs 6,380 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 2070%. There are no figures available for the revisions in years other than those mentioned.

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 for these streets is Rs 3,960 per sq.ft, placing Ramamoorthy Avenue's 2024 figure above this median.

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

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, while the registration fee at 2% would be Rs 1,27,600, bringing the total to Rs 5,74,200. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

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 information.

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

The guideline value is a crucial factor during property registration in Porur. It serves as a benchmark for determining the minimum price at which a property can be sold or bought. When a property is registered, the guideline value is used to calculate the applicable stamp duty and registration fees.

Buyers and sellers must be aware that the guideline value can affect the overall cost of transactions. It is essential to consider this value to ensure compliance with local regulations and to avoid any potential legal issues during the buying or selling process.

Frequently asked questions

What is the current guideline value of Ramamoorthy Avenue?

The current guideline value of Ramamoorthy Avenue 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 significantly from Rs 294 per sq.ft in 2002 to Rs 6,380 per sq.ft in 2024, marking an overall increase of 2070%.

What is the land classification for Ramamoorthy Avenue?

Ramamoorthy Avenue is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

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 Ramamoorthy Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For instance, for a property valued at Rs 63,80,000, the stamp duty would be Rs 4,46,600 at a rate of 7%.