Guideline Value for Besant Nagar 2nd Avenue

Besant Nagar 2nd Avenue guideline value

The current guideline value of Besant Nagar 2nd Avenue is Rs 9,900 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 - II.

How the guideline value of Besant Nagar 2nd Avenue has changed

Over the years, the guideline value of Besant Nagar 2nd Avenue has seen significant changes. The earliest recorded figure is from 2002, with a guideline value of Rs 1,415 per sq.ft. This value increased to Rs 1,674 per sq.ft in 2003, marking an 18% rise. The following revisions were marked by substantial increases, with the value jumping to Rs 5,500 per sq.ft in 2007, a 229% increase from 2003. The value then rose to Rs 9,000 per sq.ft in 2012, reflecting a 64% increase from 2007, before dropping to Rs 6,030 per sq.ft in 2017, a decline of 33%.

From 2017 to 2023, the guideline value increased significantly to Rs 9,000 per sq.ft, showing a 49% rise. The most recent revision in 2024 set the value at Rs 9,900 per sq.ft, which is a 10% increase from the previous year. There are no figures available for the revisions in years other than those listed.

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 of Besant Nagar 2nd Avenue is above this median.

• Besant Nagar 29th Cross Street: Rs 6,600 per sq.ft (2024)
• Besant Nagar 2nd Cross Street: Rs 6,600 per sq.ft (2024)
• Besant Nagar 2nd Main Road: Rs 9,900 per sq.ft (2024)
• Besant Nagar 28th Cross Street: Rs 6,600 per sq.ft (2024)
• Besant Nagar 30th Cross Street: Rs 6,600 per sq.ft (2024)
• Besant Nagar 27th Cross Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Besant Nagar 2nd Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 9,900 per sq.ft, the total guideline value amounts to Rs 99,00,000. The stamp duty is calculated at 7%, which amounts to Rs 6,93,000, and the registration fee is 2%, totaling Rs 1,98,000. Together, these fees amount to Rs 8,91,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Besant Nagar 2nd Avenue?

The Sub Registrar Office that covers Besant Nagar 2nd Avenue is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more details.

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 is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the buyer must pay the applicable stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Besant Nagar 2nd Avenue?

The current guideline value of Besant Nagar 2nd Avenue is Rs 9,900 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 1,415 per sq.ft in 2002 to Rs 9,900 per sq.ft in 2024, reflecting a total increase of 600% over the years.

What is the registration fee for property in Besant Nagar 2nd Avenue?

The registration fee for property in Besant Nagar 2nd Avenue is calculated at 2% of the guideline value. For a 1,000 sq.ft plot, this amounts to Rs 1,98,000.

Where can I find the Sub Registrar Office for Besant Nagar 2nd Avenue?

The Sub Registrar Office for Besant Nagar 2nd Avenue is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the stamp duty and registration fees during property transactions. It ensures that these fees are based on the official valuation of the property, providing a standardized approach to property registration.