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 road is located in Mylapore Part 2 village under the Chennai Central Joint I SRO, and it is classified as 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 register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. The most recent figures show that in 2023, the guideline value was Rs 12,000 per sq.ft, which increased by 10% to Rs 13,200 per sq.ft in 2024.

Prior to the 2023 revision, there were no recorded values for the previous years. The 2024 figure of Rs 13,200 per sq.ft is significantly higher than the previous year's value, indicating a notable increase in the guideline value.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 streets under the Chennai Central Joint I SRO with a 2024 guideline value 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, and Besant Road's 2024 figure is 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 guideline value of Rs 13,200 per sq.ft, the total 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, bringing the total fees to Rs 11,88,000. 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 accurate calculations based on your property details.

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. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value is a crucial factor when registering property transactions in Mylapore Part 2. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When a buyer or seller engages in a property transaction, the guideline value helps determine the minimum value at which the property can be registered. This value is essential for both parties to understand their financial obligations during the registration process.

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 was Rs 12,000 per sq.ft in 2023 and increased by 10% to Rs 13,200 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Besant Road?

Besant Road is classified as Commercial Special Type - III, indicating its specific use and zoning regulations.

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

For a property valued at Rs 1,32,00,000, the stamp duty would be Rs 9,24,000, and the registration fee would be Rs 2,64,000, totaling Rs 11,88,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations for Besant Road?

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