Guideline Value for BESANT NAGAR 2ND AVENUE

Besant Nagar 2nd Avenue guideline value

The current guideline value of Besant Nagar 2nd Avenue is Rs 11,000 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 Residential Special Type - II.

How the guideline value of Besant Nagar 2nd Avenue has changed

The guideline value for Besant Nagar 2nd Avenue has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 2,243 per sq.ft. This increased to Rs 2,481 per sq.ft in 2003, marking an increase of 11%. The value continued to rise, reaching Rs 3,000 per sq.ft in 2007, which was a significant increase of 21% from the previous year. The 2012 revision saw the value at Rs 10,000 per sq.ft, reflecting a notable increase of 233% from 2007. However, in 2017, the value dropped to Rs 6,700 per sq.ft, a decrease of 33% from 2012.

In the 2023 revision, the value was set at Rs 10,000 per sq.ft. This was followed by the 2024 revision, which raised the guideline value to Rs 11,000 per sq.ft, marking a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 390%.

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 value is Rs 9,900 per sq.ft, placing the 2024 guideline value of Besant Nagar 2nd Avenue above this median.

• Besant Nagar 29th Cross Street: Rs 9,900 per sq.ft (2024)
• Besant Nagar 28th Cross Street: Rs 9,900 per sq.ft (2024)
• Besant Nagar 30th Cross Street: Rs 9,900 per sq.ft (2024)
• Besant Nagar 31st Cross Street: Rs 9,900 per sq.ft (2024)
• Besant Nagar 32nd Cross Street: Rs 9,900 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 2nd Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value would be Rs 1,10,00,000. The stamp duty at 7% would amount to Rs 7,70,000, while the registration fee at 2% would be Rs 2,20,000. Together, the total cost for these fees would be Rs 9,90,000. It's important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Besant Nagar 2nd Avenue?

Besant Nagar 2nd Avenue 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 is a crucial factor in property transactions in Thiruvanmiyur. It serves as a benchmark for determining the minimum value at which a property can be registered. When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

During the registration process, buyers and sellers must ensure that the sale price of the property meets or exceeds the guideline value. This helps in maintaining transparency and fairness in property transactions, as the guideline value is determined based on various factors, including location and land classification.

Frequently asked questions

What is the current guideline value of Besant Nagar 2nd Avenue?

The current guideline value of Besant Nagar 2nd Avenue is Rs 11,000 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 2,243 per sq.ft in 2002 to Rs 11,000 per sq.ft in 2024, marking an overall increase of 390% over this period.

What is the stamp duty rate for properties in Besant Nagar 2nd Avenue?

The stamp duty rate for properties in Besant Nagar 2nd Avenue is 7% of the guideline value or the sale price, whichever is higher.

What is the registration fee for properties in Besant Nagar 2nd Avenue?

The registration fee for properties in Besant Nagar 2nd Avenue is 2% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Besant Nagar 2nd Avenue?

The Sub Registrar Office covering Besant Nagar 2nd Avenue is 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.