Guideline Value for Besant Road

Besant Road guideline value

The current guideline value of Besant Road is Rs 13,200 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village and falls under the Chennai Central Joint I SRO. The land classification for this area is Commercial Special Type - III.

How the guideline value of Besant Road has changed

The guideline value for Besant Road has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 13,200 per sq.ft, reflecting a 10% increase from the 2023 revision, which was Rs 12,000 per sq.ft. For earlier years, the register has no figure for this street in 2017, 2012, 2007, 2003, and 2002.

Prior to the 2023 revision, the guideline value for Besant Road had not been recorded in the register for the aforementioned years. This indicates a lack of consistent valuation for this street until the recent updates in the guideline value register.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO, with 2024 guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, placing Besant Road's 2024 figure above this median.

• Beerkaran Lane 2nd Cross Street: Rs 7,700 per sq.ft (2024)
• Beerkaran 3rd Cross Street: Rs 7,700 per sq.ft (2024)
• Beerkaran 2nd Street: Rs 7,700 per sq.ft (2024)
• Beerkaran 1st Street: Rs 7,700 per sq.ft (2024)
• Beerkaran 1st Cross Street: Rs 7,700 per sq.ft (2024)
• Bharathiar Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Besant Road

For a 1,000 sq.ft plot at the current rate of Rs 13,200 per sq.ft, the guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, totaling Rs 11,88,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Besant Road?

The Sub Registrar Office that covers Besant Road is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value plays a crucial role during the registration of property transactions in Mylapore Part 1. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is assessed to determine the official value of the property, which can influence the overall transaction process. Buyers and sellers should be aware of the current guideline value to ensure compliance with legal obligations during the sale.

Frequently asked questions

What is the current guideline value of Besant Road?

The current guideline value of Besant Road is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Besant Road increased from Rs 12,000 per sq.ft in 2023 to Rs 13,200 per sq.ft in 2024, reflecting a 10% increase. There are no recorded figures for the years 2017, 2012, 2007, 2003, and 2002.

What is the land classification for Besant Road?

Besant Road is classified as Commercial Special Type - III. This classification can impact the usage and development potential of properties along this road.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 11,88,000. This includes a stamp duty of Rs 9,24,000 and a registration fee of Rs 2,64,000.

Which Sub Registrar Office covers the registration for Besant Road?

The Chennai Central Joint I Sub Registrar Office covers Besant Road, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.