Guideline Value for Besant Nagar 1st Cross Street

Besant Nagar 1st Cross Street guideline value

The current guideline value of Besant Nagar 1st 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 is classified as Residential Class II Type - I.

How the guideline value of Besant Nagar 1st Cross Street has changed

The guideline value for Besant Nagar 1st Cross Street has seen several revisions over the years. In 2002, the value was Rs 1,118 per sq.ft, which increased to Rs 1,322 per sq.ft in 2003. Following that, the value rose significantly to Rs 2,800 per sq.ft in 2007, and then to Rs 6,000 per sq.ft in 2012. However, it dropped to Rs 4,020 per sq.ft in 2017 before climbing back to Rs 6,000 per sq.ft in 2023. The most recent revision in 2024 set the guideline 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 490%. The changes between revisions include a 49% increase from 2017 to 2023, a 33% decrease from 2012 to 2017, a 114% increase from 2007 to 2012, a 112% increase from 2003 to 2007, and an 18% increase from 2002 to 2003. The register has no figures for the years not listed in this context.

Guideline values in Urur

In Urur village, 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, which matches the current guideline value of Besant Nagar 1st Cross Street.

• Besant Nagar 1st Main Road: Rs 9,900 per sq.ft (2024)
• Besant Nagar 1st Avenue: Rs 9,900 per sq.ft (2024)
• Besant Nagar 20th Cross Street: Rs 6,600 per sq.ft (2024)
• Besant Nagar 21st Cross Street: Rs 6,600 per sq.ft (2024)
• Besant Nagar 19th Cross Street: Rs 6,600 per sq.ft (2024)
• Besant Nagar 22nd Cross Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Besant Nagar 1st 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 amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total fees 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.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Besant Nagar 1st Cross Street?

The Sub Registrar Office that covers Besant Nagar 1st 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 a crucial factor in the registration process when buying or selling property in Urur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the market value of the property.

Frequently asked questions

What is the current guideline value of Besant Nagar 1st Cross Street?

The current guideline value of Besant Nagar 1st 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 1,118 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, showing an overall increase of 490% over this period.

What is the stamp duty rate for properties in Besant Nagar 1st Cross Street?

The stamp duty rate for properties in Besant Nagar 1st Cross Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office located for Besant Nagar 1st Cross Street?

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

How can I calculate the registration fees for a property in Besant Nagar 1st Cross Street?

You can calculate the registration fees using the stamp duty and registration fee calculator available online.