Guideline Value for BESANT NAGAR 7TH AVENUE

Besant Nagar 7th Avenue guideline value

The current guideline value of Besant Nagar 7th Avenue 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 7th Avenue has changed

The guideline value for Besant Nagar 7th Avenue has undergone several revisions over the years. In 2007, the value was Rs 3,000 per sq.ft, which increased significantly to Rs 11,500 per sq.ft in 2012, marking a substantial rise of 283%. However, by 2017, the value dropped to Rs 7,705 per sq.ft, reflecting a decrease of 33%. The value continued to rise, reaching Rs 11,500 per sq.ft in 2023, and then increased by 10% to the current rate of Rs 12,660 per sq.ft in 2024.

From 2017 to 2023, there was a notable increase of 49%. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 322%. The register has no figures for the years 2002 and 2003 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 for these streets is Rs 9,900 per sq.ft, which means that the guideline value for Besant Nagar 7th Avenue is above this median.

• Besant Nagar 6th Cross Street: Rs 9,900 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 7th Avenue

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

Which Sub Registrar Office covers Besant Nagar 7th Avenue?

The Sub Registrar Office that covers Besant Nagar 7th 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. 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 the registration process of property transactions in Thiruvanmiyur. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, which are mandatory costs associated with the transfer of property ownership.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. Accurate knowledge of these values ensures compliance with local regulations and helps in the smooth processing of property registrations.

Frequently asked questions

What is the current guideline value of Besant Nagar 7th Avenue?

The current guideline value of Besant Nagar 7th Avenue is Rs 12,660 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 3,000 per sq.ft in 2007 to Rs 12,660 per sq.ft in 2024, marking an overall increase of 322% over the years.

What are the stamp duty and registration fees for a property here?

For a property valued at Rs 1,26,60,000, the stamp duty would be Rs 8,86,200, and the registration fee would be Rs 2,53,200, totaling Rs 11,39,400.

Which office handles property registrations in Besant Nagar 7th Avenue?

The Chennai South Joint I Sub Registrar Office handles property registrations for Besant Nagar 7th Avenue, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the median guideline value in Thiruvanmiyur?

The median guideline value for streets in Thiruvanmiyur is Rs 9,900 per sq.ft, while Besant Nagar 7th Avenue's current value is above this median.