Guideline Value for Besant Nagar 16th Cross Street

Besant Nagar 16th Cross Street guideline value

The current guideline value of Besant Nagar 16th 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 it falls under the Residential Class II Type - I land classification.

How the guideline value of Besant Nagar 16th Cross Street has changed

The guideline value for Besant Nagar 16th Cross Street has undergone several revisions over the years. In 2002, the guideline value was Rs 1,676 per sq.ft, which increased to Rs 1,981 per sq.ft in 2003. The value saw a significant rise to Rs 2,800 per sq.ft in 2007, followed by an increase to Rs 6,000 per sq.ft in 2012. However, it dropped to Rs 4,020 per sq.ft in 2017 before rising again to Rs 6,000 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 6,600 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 294%. The changes between the revisions include a 49% increase from 2017 to 2023 and a 114% increase from 2007 to 2012. The register has no figures for the years not mentioned in this summary.

Guideline values in Urur

In Urur, 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, with a median value of Rs 6,600 per sq.ft. The guideline value for Besant Nagar 16th Cross Street aligns with this median.

• Besant Nagar 15th Cross Street: Rs 6,600 per sq.ft (2024)
• Besant Nagar 17th Cross Street: Rs 6,600 per sq.ft (2024)
• 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 18th Cross Street: Rs 6,600 per sq.ft (2024)
• Besant Nagar 12th Cross Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Besant Nagar 16th 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 amounts to Rs 66,00,000. The stamp duty, charged at 7%, would be Rs 4,62,000, while the registration fee at 2% would be Rs 1,32,000. Together, the total cost for these charges would be Rs 5,94,000. It is important to note that 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 Besant Nagar 16th Cross Street?

The Sub Registrar Office that covers Besant Nagar 16th Cross Street 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 is an important factor when registering property transactions in Urur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the buying or selling process.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Besant Nagar 16th Cross Street?

The current guideline value of Besant Nagar 16th 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 significantly from Rs 1,676 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 294% over this period.

What are the stamp duty and registration fees for properties in this area?

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 the registration of properties in Besant Nagar 16th Cross Street?

The Adayar Sub Registrar Office handles the registration of properties in Besant Nagar 16th Cross Street, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

What is the land classification for Besant Nagar 16th Cross Street?

Besant Nagar 16th Cross Street is classified as Residential Class II Type - I, which is relevant for understanding its guideline value and usage.