Guideline Value for Ramamoorthy street , barath avenue

Ramamoorthy street , barath avenue guideline value

The current guideline value of Ramamoorthy street , barath avenue is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Ramamoorthy street , barath avenue has changed

Over the years, the guideline value of Ramamoorthy street , barath avenue has seen several revisions. The 2012 revision recorded a value of Rs 1,500 per sq.ft, which was reduced to Rs 1,005 per sq.ft in the 2017 revision. In the following years, the value increased significantly, reaching Rs 1,500 per sq.ft in the 2023 revision and finally rising to Rs 1,650 per sq.ft in the 2024 revision. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

The changes between the revisions show a notable fluctuation. From 2012 to 2017, the value decreased by 33%, but from 2017 to 2023, it increased by 49%. The overall change from 2012 to 2024 reflects a modest increase of 10%.

Guideline values in Chitlapakkam

Chitlapakkam village has a total of 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, which is equal to the current value of Ramamoorthy street , barath avenue.

• Ramalingahadikal street: Rs 1,650 per sq.ft (2024)
• Ramalinga Adigalar Street: Rs 2,750 per sq.ft (2024)
• Ramalinga Adigalar Ist Cross Street: Rs 1,650 per sq.ft (2024)
• Ramalinga Adigalar 2nd Street: Rs 1,650 per sq.ft (2024)
• RamaKrishna street,santhi avenue: Rs 2,750 per sq.ft (2024)
• Ramakrishnapuram Kambar Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Ramamoorthy street , barath avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty, calculated at 7%, would be Rs 1,15,500, while the registration fee at 2% would be Rs 33,000, bringing the total cost to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more information on fees applicable to property transactions.

Which Sub Registrar Office covers Ramamoorthy street , barath avenue?

The Sub Registrar Office covering Ramamoorthy street , barath avenue is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Chitlapakkam. It serves as the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from property transactions. Buyers and sellers must be aware of this value when negotiating sale prices, as it can influence the final agreed amount.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction and helps streamline the registration process.

Frequently asked questions

What is the current guideline value of Ramamoorthy street , barath avenue?

The current guideline value of Ramamoorthy street , barath avenue is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for Ramamoorthy street , barath avenue?

The land classification for Ramamoorthy street , barath avenue is Residential Class I Type - III.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Ramamoorthy street , barath avenue is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, the stamp duty for a property valued at Rs 16,50,000 would be Rs 1,15,500 at a rate of 7%.