Guideline Value for Road Street

Road Street guideline value

The current guideline value of Road Street in Moonramkattalai village under the Kunrathur SRO is Rs 1,000 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Road Street has changed

Over the years, the guideline value of Road Street has seen several revisions. The 2007 revision set the value at Rs 250 per sq.ft, which increased significantly to Rs 900 per sq.ft in the 2012 revision, marking a 260% increase. However, the value then decreased to Rs 603 per sq.ft in the 2017 revision, a drop of 33% from the previous figure.

In the following years, the value rose to Rs 900 per sq.ft in the 2023 revision, which was a 49% increase from 2017. The most recent revision in 2024 set the guideline value at Rs 1,000 per sq.ft, reflecting an 11% increase from 2023. Overall, from 2007 to 2024, the guideline value has increased by 300%.

Guideline values in Moonramkattalai

In Moonramkattalai, there are 43 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 650 to Rs 2,750 per sq.ft. The median guideline value for these streets is Rs 650 per sq.ft, placing Road Street's 2024 figure above that median.

• R.M.P. Nagar: Rs 1,800 per sq.ft (2024)
• Ramamoorthy Avenue: Rs 2,750 per sq.ft (2024)
• Pooja Avenue Annex: Rs 2,750 per sq.ft (2024)
• Poniyamman Koil Street/santhu: Rs 650 per sq.ft (2024)
• Poniyamman Koil Street: Rs 650 per sq.ft (2024)
• Sivan Koil Street: Rs 650 per sq.ft (2024)

Stamp duty and registration fee for property in Road Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, and the registration fee at 2% would be Rs 20,000, totaling Rs 90,000. 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 details.

Which Sub Registrar Office covers Road Street?

The Sub Registrar Office that covers Road Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property transactions in Moonramkattalai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the expected value of the property. It is essential for buyers to be aware of the guideline value to ensure they are making informed decisions during the transaction process.

Frequently asked questions

What is the current guideline value of Road Street?

The current guideline value of Road Street is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2024, showing a significant increase of 300% over the years.

What is the land classification for Road Street?

The land classification for Road Street is Residential Special Type - II.

Where can I find the Sub Registrar Office for Road Street?

The Sub Registrar Office for Road Street is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in Road Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000 at a rate of 7%.