Guideline Value for BESANT NAGAR 6TH CROSS STREET

Besant Nagar 6th Cross Street guideline value

The current guideline value of Besant Nagar 6th Cross Street is Rs 9,900 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 Class I Type - I.

How the guideline value of Besant Nagar 6th Cross Street has changed

The guideline value for Besant Nagar 6th Cross Street has undergone several revisions over the years. In the 2002 revision, the value was Rs 1,571 per sq.ft. This increased to Rs 1,738 per sq.ft in 2003, marking a change of +11%. The value continued to rise, reaching Rs 2,200 per sq.ft in 2007, which was a significant increase of +27%. The 2012 revision saw a drop to Rs 9,000 per sq.ft, reflecting a decrease of -309% from the previous figure. However, the value rebounded to Rs 6,030 per sq.ft in 2017, showing an increase of +49%.

In the 2023 revision, the guideline value was set at Rs 9,000 per sq.ft, which then rose to Rs 9,900 per sq.ft in the 2024 revision, indicating a change of +10%. Overall, from 2002 to 2024, the guideline value has increased by +530%. There are no figures available for any other revisions for this street.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that have 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, which is equal to the guideline value of Besant Nagar 6th Cross Street.

• Besant Nagar 7th Avenue: Rs 12,660 per sq.ft (2024)
• BESANT NAGAR 6th AVENUE: Rs 11,000 per sq.ft (2024)
• Besant Nagar 32nd Cross Street: Rs 9,900 per sq.ft (2024)
• Besant Nagar 31st Cross Street: Rs 9,900 per sq.ft (2024)
• Besant Nagar 30th Cross Street: Rs 9,900 per sq.ft (2024)
• Besant Nagar 2nd Avenue: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in Besant Nagar 6th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 9,900 per sq.ft, the total guideline value amounts to Rs 99,00,000. The stamp duty at 7% would be Rs 6,93,000, and the registration fee at 2% would be Rs 1,98,000, totaling Rs 8,91,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Besant Nagar 6th Cross Street?

The Besant Nagar 6th 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 when buying or selling property in Thiruvanmiyur. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers should be aware that the guideline value is set by the government and reflects the minimum value at which the property can be registered.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate tax revenue from property transactions, regardless of the actual sale price.

Frequently asked questions

What is the current guideline value of Besant Nagar 6th Cross Street?

The current guideline value of Besant Nagar 6th Cross Street is Rs 9,900 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 1,571 per sq.ft in 2002 to Rs 9,900 per sq.ft in 2024, reflecting an overall increase of +530% over this period.

What are the stamp duty and registration fees for property in this area?

For a 1,000 sq.ft property, the total guideline value is Rs 99,00,000. The stamp duty at 7% is Rs 6,93,000, and the registration fee at 2% is Rs 1,98,000, totaling Rs 8,91,000.

Which office handles registrations for Besant Nagar 6th Cross Street?

The Chennai South Joint I Sub Registrar Office handles registrations for Besant Nagar 6th Cross Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the land classification for Besant Nagar 6th Cross Street?

The land classification for Besant Nagar 6th Cross Street is Residential Class I Type - I, indicating its suitability for residential development.