Guideline Value for Besant Avenue

Besant Avenue guideline value

The current guideline value of Besant Avenue is Rs 12,700 per sq.ft, effective from 1 July 2024. This street is located in Urur village, under the Adayar SRO, and is classified as Residential Special Type - I.

How the guideline value of Besant Avenue has changed

The guideline value for Besant Avenue has seen significant changes over the years. In the 2002 revision, the value was Rs 2,446 per sq.ft, which increased to Rs 2,892 per sq.ft in 2003, marking an 18% rise. The value then surged dramatically by 295% to Rs 11,425 per sq.ft in 2007. Following this, the 2012 revision saw a slight increase to Rs 11,500 per sq.ft, but then it decreased to Rs 7,705 per sq.ft in 2017, reflecting a 33% drop. The value rebounded to Rs 11,500 per sq.ft in 2023 and then rose again to Rs 12,700 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 419%. The revisions have shown a consistent upward trend with the exception of the decline noted between 2012 and 2017. The register has no figure for the years not listed for this street.

Guideline values in Urur

In Urur, there are 176 streets under the Adayar SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 15,400 per sq.ft. The median value is Rs 6,600 per sq.ft, and Besant Avenue's 2024 figure of Rs 12,700 per sq.ft is above that median.

• Besant Nagar 10th Cross Street: Rs 6,600 per sq.ft (2024)
• Besant Nagar 11th Cross Street: Rs 6,600 per sq.ft (2024)
• Besant Nagar 12th Cross Street: Rs 6,600 per sq.ft (2024)
• Besant Nagar 13th Cross Street: Rs 6,600 per sq.ft (2024)
• Besant Nagar 14th Cross Street: Rs 6,600 per sq.ft (2024)
• Besant Nagar 15th Cross Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Besant Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 12,700 per sq.ft, the total guideline value would be Rs 1,27,00,000. The stamp duty at 7% would amount to Rs 8,89,000, and the registration fee at 2% would be Rs 2,54,000, bringing the total to Rs 11,43,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Besant Avenue?

The Sub Registrar Office that covers Besant Avenue is 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 plays a crucial role in the registration process when buying or selling property in Urur. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures transparency and helps in calculating the applicable stamp duty and registration fees.

When a property is sold, the buyer and seller must consider the guideline value for the registration process. If the sale price is higher than the guideline value, the duty will be charged based on the sale price. Conversely, if the sale price is lower, the duty will be calculated using the guideline value.

Frequently asked questions

What is the current guideline value of Besant Avenue?

The current guideline value of Besant Avenue is Rs 12,700 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 2,446 per sq.ft in 2002 to Rs 12,700 per sq.ft in 2024, reflecting an overall increase of 419%.

What is the land classification of Besant Avenue?

Besant Avenue is classified as Residential Special Type - I.

What is the median guideline value in Urur?

The median guideline value in Urur is Rs 6,600 per sq.ft for the year 2024.

Where is the Adayar Sub Registrar Office located?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.