Guideline Value for BESANT NAGAR

Besant Nagar guideline value

The current guideline value of Besant Nagar is Rs 160 per sq.ft, effective from 1 July 2024. This area is part of Nethapakkam village under the Madurandakam Sub Registrar Office (SRO), classified as Residential Special Type - III.

How the guideline value of Besant Nagar has changed

Over the years, the guideline value of Besant Nagar has undergone several revisions. The 2012 revision set the value at Rs 160 per sq.ft, which remained unchanged until the 2023 revision. The 2017 revision saw a decrease to Rs 107 per sq.ft, but the value returned to Rs 160 per sq.ft in both the 2012 and 2023 revisions. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2017 to 2023, the guideline value increased by 50%, while from 2023 to 2024, there was no change. Overall, comparing the 2012 and 2024 revisions, the guideline value has remained constant at Rs 160 per sq.ft.

Guideline values in Nethapakkam

Nethapakkam village has eight streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 300 per sq.ft. The median value for these streets is Rs 130 per sq.ft, placing the guideline value of Besant Nagar above this median.

• Ambal Nagar: Rs 100 per sq.ft (2024)
• Ganapathy Nagar: Rs 200 per sq.ft (2024)
• J.U.S.Nagar: Rs 100 per sq.ft (2024)
• Sakthi Saibaba Nagar: Rs 100 per sq.ft (2024)
• Santhosh Nagar: Rs 100 per sq.ft (2024)
• Vgp Gold Nest: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Besant Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 160 per sq.ft, the total guideline value would be Rs 1,60,000. The stamp duty at 7% would amount to Rs 11,200, while the registration fee at 2% would be Rs 3,200, totaling Rs 14,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Besant Nagar?

The Madurandakam Sub Registrar Office covers Besant Nagar. The office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor when registering property transactions in Nethapakkam. It serves as the basis for calculating stamp duty and registration fees, which are mandatory for all property transactions.

When a buyer or seller agrees on a sale price, the higher of the sale price or the guideline value is used to determine the applicable duties and fees. This ensures that all transactions are conducted fairly and transparently in accordance with the established guidelines.

Frequently asked questions

What is the current guideline value of Besant Nagar?

The current guideline value of Besant Nagar is Rs 160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 160 per sq.ft since the 2012 revision, with a notable decrease to Rs 107 per sq.ft in 2017, followed by a return to Rs 160 per sq.ft in 2023.

What is the land classification for Besant Nagar?

Besant Nagar is classified as Residential Special Type - III under the Madurandakam SRO.

What are the stamp duty and registration fees for property in Besant Nagar?

For a property valued at Rs 1,60,000, the stamp duty would be Rs 11,200 and the registration fee would be Rs 3,200, totaling Rs 14,400.

Which office handles property registrations in Besant Nagar?

The Madurandakam Sub Registrar Office is responsible for property registrations in Besant Nagar, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.