Guideline Value for Ramaraj Avenue

Ramaraj Avenue guideline value

The current guideline value of Ramaraj Avenue is Rs 2,970 per sq.ft, effective from 1 July 2024. This street is located in Perungalathur village under the Padappai Sub Registrar Office (SRO) and is classified as Commercial Class I Type - II.

How the guideline value of Ramaraj Avenue has changed

The guideline value for Ramaraj Avenue has seen significant changes over the years. Starting from Rs 250 per sq.ft in 2007, it rose dramatically to Rs 2,700 per sq.ft in 2012, marking an increase of 980%. However, it then decreased to Rs 1,809 per sq.ft in 2017, a decline of 33%. The value further increased to Rs 2,700 per sq.ft in 2023, followed by a rise to the current value of Rs 2,970 per sq.ft in 2024, which is a 10% increase.

There are no figures available for Ramaraj Avenue for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 1,088%.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft, with a median value of Rs 2,310 per sq.ft. Ramaraj Avenue's current guideline value is above this median.

• Ramanujam Street: Rs 2,640 per sq.ft (2024)
• Ramanar Street: Rs 2,640 per sq.ft (2024)
• Ramalinga Adikal Street: Rs 1,650 per sq.ft (2024)
• Ramadass Street: Rs 2,640 per sq.ft (2024)
• Ranganayagi Street: Rs 1,650 per sq.ft (2024)
• Rajiv Nagar: Rs 2,640 per sq.ft (2024)

Stamp duty and registration fee for property in Ramaraj Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,970 per sq.ft, the total guideline value amounts to Rs 29,70,000. The stamp duty at 7% would be Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, making the total cost for these fees 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.

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

Which Sub Registrar Office covers Ramaraj Avenue?

The Sub Registrar Office that covers Ramaraj Avenue is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perungalathur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during registration.

When a property is registered, the guideline value is used to calculate the stamp duty, which is charged at a percentage of the higher value between the guideline value and the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ramaraj Avenue?

The current guideline value of Ramaraj Avenue is Rs 2,970 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 250 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, reflecting an overall increase of 1,088% over this period.

What are the stamp duty and registration fees for property in Ramaraj Avenue?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 2,07,900, and the registration fee would be Rs 59,400, totaling Rs 2,67,300.

Which Sub Registrar Office covers Ramaraj Avenue?

The Padappai Sub Registrar Office covers Ramaraj Avenue, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It is essential for buyers and sellers to be aware of this value to ensure compliance with registration requirements.