Guideline Value for Besant Nagar 15th Cross Street

Besant Nagar 15th Cross Street guideline value

The current guideline value of Besant Nagar 15th Cross Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Urur village under the Adayar SRO and falls under the Residential Class II Type - I land classification.

How the guideline value of Besant Nagar 15th Cross Street has changed

The guideline value for Besant Nagar 15th Cross Street has seen several revisions over the years. In 2002, the value was Rs 749 per sq.ft, which increased to Rs 886 per sq.ft in 2003. The value then rose significantly to Rs 2,800 per sq.ft in 2007, marking a 216% increase. Following that, the value jumped to Rs 6,000 per sq.ft in 2012, representing a 114% increase. However, it decreased to Rs 4,020 per sq.ft in 2017, showing a decline of 33%. The value was revised again to Rs 6,000 per sq.ft in 2023, before reaching the current rate of 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 781%. The register has no figures for the years not mentioned in this overview.

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 value for these streets is Rs 6,600 per sq.ft, which is equal to the current guideline value of Besant Nagar 15th Cross Street.

• Besant Nagar 14th Cross Street: Rs 6,600 per sq.ft (2024)
• Besant Nagar 13th Cross Street: Rs 6,600 per sq.ft (2024)
• Besant Nagar 16th Cross Street: Rs 6,600 per sq.ft (2024)
• Besant Nagar 12th Cross Street: Rs 6,600 per sq.ft (2024)
• Besant Nagar 11th Cross Street: Rs 6,600 per sq.ft (2024)
• Besant Nagar 17th Cross Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Besant Nagar 15th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be 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, together amounting to 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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Besant Nagar 15th Cross Street?

The Adayar Sub Registrar Office covers Besant Nagar 15th Cross Street. The office is 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 the registration of property transactions in Urur. It serves as the basis for calculating the stamp duty and registration fees that buyers must pay when purchasing property. This value is determined by the Registration Department and is regularly updated to reflect changes in the real estate market.

When selling property, the guideline value helps establish a legal benchmark for the transaction. It ensures that the property is registered at a value that is recognized by the government, thereby facilitating a transparent and standardized process for both buyers and sellers.

Frequently asked questions

What is the current guideline value of Besant Nagar 15th Cross Street?

The current guideline value of Besant Nagar 15th Cross Street 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 749 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, marking an overall increase of 781% over the years.

What is the land classification for Besant Nagar 15th Cross Street?

Besant Nagar 15th Cross Street is classified under Residential Class II Type - I land classification.

Where can I find the registration office for Besant Nagar 15th Cross Street?

The registration office for Besant Nagar 15th Cross Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 66,00,000, the stamp duty would be calculated at 7% of this value.