Guideline Value for Ramaswamy Avenue

Ramaswamy Avenue guideline value

The current guideline value of Ramaswamy Avenue is Rs 6,100 per sq.ft, effective from 1 July 2024. This street is located in Urur village, under the Adayar SRO, and is classified as Residential Class III Type - I.

How the guideline value of Ramaswamy Avenue has changed

The guideline value for Ramaswamy Avenue has seen several revisions over the years. In 2002, the value was Rs 1,110 per sq.ft. This increased to Rs 1,313 per sq.ft in 2003, marking an increase of 18%. The value continued to rise, reaching Rs 2,000 per sq.ft in 2007, which was a significant increase of 52%. However, in 2012, the value remained at Rs 5,500 per sq.ft, and then it decreased to Rs 3,685 per sq.ft in 2017, reflecting a decline of 33%.

From 2017 to 2023, the guideline value increased significantly by 49% to reach Rs 5,500 per sq.ft. The most recent revision in 2024 set the value at Rs 6,100 per sq.ft, which is an increase of 11% from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 450%.

Guideline values in Urur

In Urur village, there are 176 streets under the Adayar SRO, with 2024 guideline values ranging from Rs 4,400 to Rs 15,400 per sq.ft. The median value for these streets is Rs 6,600 per sq.ft, placing Ramaswamy Avenue's 2024 figure below that median.

• Ramaswamy Thottam: Rs 5,500 per sq.ft (2024)
• R.S.Compound: Rs 6,600 per sq.ft (2024)
• Sashthri Nagar 10th Cross Street: Rs 7,700 per sq.ft (2024)
• Sashthri Nagar 11th Cross Street: Rs 7,700 per sq.ft (2024)
• Sashthri Nagar 12th Cross Street: Rs 7,700 per sq.ft (2024)
• Sashthri Nagar 13th Cross Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Ramaswamy Avenue

For a 1,000 sq.ft plot at the current rate of Rs 6,100 per sq.ft, the guideline value amounts to Rs 61,00,000. The stamp duty at 7% would be Rs 4,27,000, and the registration fee at 2% would be Rs 1,22,000, bringing the total to Rs 5,49,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ramaswamy Avenue?

The Sub Registrar Office that covers Ramaswamy Avenue is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Urur. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers should be aware that the guideline value will influence the overall cost of the transaction.

When registering a property, the guideline value is considered alongside the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ramaswamy Avenue?

The current guideline value of Ramaswamy Avenue is Rs 6,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,110 in 2002 to Rs 6,100 in 2024, reflecting an overall increase of 450% over the years.

What is the land classification for Ramaswamy Avenue?

Ramaswamy Avenue is classified as Residential Class III Type - I, indicating its designation for residential use.

Where is the Adayar Sub Registrar Office located?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. This ensures that the government receives the appropriate revenue from property transactions.