Guideline Value for Beach Corner

Beach Corner guideline value

The current guideline value of Beach Corner, located in Urur village under the Adayar SRO, is Rs 6,600 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Beach Corner has changed

The guideline value for Beach Corner has seen significant changes over the years. Starting from Rs 411 per sq.ft in 2002, it rose to Rs 487 per sq.ft in 2003. The value then increased dramatically to Rs 2,800 per sq.ft in 2007, marking a rise of 475%. In 2012, it was recorded at Rs 6,000 per sq.ft, reflecting a 114% increase from the previous revision. However, the value decreased by 33% to Rs 4,020 per sq.ft in 2017. The subsequent revisions saw the value rise to Rs 6,000 per sq.ft in 2023, and finally to Rs 6,600 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1506%. The register has no figure for the years not mentioned above.

Guideline values in Urur

In Urur village, there are 176 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 15,400 per sq.ft. The median guideline value is Rs 6,600 per sq.ft, which is the same as the current value for Beach Corner.

• Beach Home Avenue Road: Rs 6,600 per sq.ft (2024)
• Beach Home Avenue Road 1st Street: Rs 6,600 per sq.ft (2024)
• Beach Home Avenue Road 2nd Street: Rs 6,600 per sq.ft (2024)
• Beach Home Avenue Road 3rd Street: Rs 6,600 per sq.ft (2024)
• Besant Avenue: Rs 12,700 per sq.ft (2024)
• Besant Nagar 10th Cross Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Beach Corner

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, totaling Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Beach Corner?

The Beach Corner area is covered by the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Urur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property transaction occurs. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is sold, the guideline value is used to calculate the applicable fees, which are based on either the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Beach Corner?

The current guideline value of Beach Corner is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 411 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 1506% over the years.

What is the land classification for Beach Corner?

Beach Corner is classified as Residential Class II Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for a property in Beach Corner?

For a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000 and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Which office handles property registrations for Beach Corner?

The Adayar Sub Registrar Office handles property registrations for Beach Corner, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.