Guideline Value for BESANT NAGAR 16TH CROSS STREET

Besant Nagar 16th Cross Street guideline value

The current guideline value of Besant Nagar 16th Cross Street is Rs 12,660 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur village and falls under the Chennai South Joint I SRO. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Besant Nagar 16th Cross Street has changed

Over the years, the guideline value of Besant Nagar 16th Cross Street has seen significant changes. The earliest revision recorded was in 2002, with a guideline value of Rs 1,912 per sq.ft. This value increased to Rs 2,115 per sq.ft in 2003, marking an increase of 11%. The next notable increase occurred in 2007, where the value jumped to Rs 2,615 per sq.ft, reflecting a 24% rise. In 2012, the value rose dramatically to Rs 11,500 per sq.ft, showing a substantial increase of 340% from the previous revision. However, in 2017, the value decreased to Rs 7,705 per sq.ft, which was a decline of 33%. The guideline value then increased to Rs 11,500 per sq.ft in 2023, before reaching the current figure of Rs 12,660 per sq.ft in 2024, which is a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2002 to 2024, the guideline value has increased by 562%.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value for these streets is Rs 9,900 per sq.ft, placing Besant Nagar 16th Cross Street's 2024 value above this median.

• Besant Nagar 15th Cross Street: Rs 9,900 per sq.ft (2024)
• Besant Nagar 17th Cross Street: Rs 9,900 per sq.ft (2024)
• Besant Nagar 18th Cross Street: Rs 12,660 per sq.ft (2024)
• Besant Nagar 19th Cross Street: Rs 9,900 per sq.ft (2024)
• Besant Nagar 1st Avenue: Rs 11,000 per sq.ft (2024)
• Besant Nagar 21st Cross Street: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in Besant Nagar 16th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 12,660 per sq.ft, the total guideline value would be Rs 1,26,60,000. The stamp duty at 7% would amount to Rs 8,86,200, and the registration fee at 2% would be Rs 2,53,200, bringing the total cost for these fees to Rs 11,39,400. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Besant Nagar 16th Cross Street?

Besant Nagar 16th Cross Street is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Thiruvanmiyur. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that must be paid. These fees are calculated based on the guideline value or the sale price, whichever is higher.

It is essential for buyers and sellers to be aware of the guideline value to ensure compliance with legal requirements during the registration process. Understanding the guideline value can help in making informed decisions when engaging in property transactions.

Frequently asked questions

What is the current guideline value of Besant Nagar 16th Cross Street?

The current guideline value of Besant Nagar 16th Cross Street is Rs 12,660 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,912 per sq.ft in 2002 to Rs 12,660 per sq.ft in 2024, marking an overall increase of 562% over this period.

What is the land classification for Besant Nagar 16th Cross Street?

Besant Nagar 16th Cross Street is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

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

The Sub Registrar Office covering Besant Nagar 16th Cross Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 1,26,60,000 would incur a stamp duty of Rs 8,86,200 and a registration fee of Rs 2,53,200.