Guideline Value for Besant Nagar 7th Avenue M.G.Road

Besant Nagar 7th Avenue M.G.Road guideline value

The current guideline value for Besant Nagar 7th Avenue M.G.Road 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 Nagar 7th Avenue M.G.Road has changed

The guideline value for Besant Nagar 7th Avenue M.G.Road has seen significant changes over the years. In 2007, the value was Rs 5,500 per sq.ft, which increased to Rs 11,500 per sq.ft by 2012, reflecting a rise of 109%. However, from 2012 to 2017, the value decreased to Rs 7,705 per sq.ft, marking a decline of 33%. The value then increased substantially to Rs 11,500 per sq.ft in 2023, and further rose to the current rate of Rs 12,700 per sq.ft in 2024, showing a 10% increase.

Overall, from 2007 to 2024, the guideline value has increased by 131%. The revisions for 2003 and 2002 do not have figures listed for this street in the register.

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 for these streets is Rs 6,600 per sq.ft, placing Besant Nagar 7th Avenue M.G.Road's 2024 figure significantly above this median.

• Besant Nagar 7th Cross Street: Rs 6,600 per sq.ft (2024)
• Besant Nagar 8th Cross Street: Rs 6,600 per sq.ft (2024)
• Besant Nagar 6th Cross Street: Rs 6,600 per sq.ft (2024)
• Besant Nagar 9th Cross Street: Rs 6,600 per sq.ft (2024)
• Besant Nagar Kakkan Colony Gudisai Pagudhi: Rs 4,400 per sq.ft (2024)
• Besant Nagar 6th Avenue: Rs 12,700 per sq.ft (2024)

Stamp duty and registration fee for property in Besant Nagar 7th Avenue M.G.Road

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

You can also use the stamp duty and registration fee calculator for more accurate calculations based on your specific property details.

Which Sub Registrar Office covers Besant Nagar 7th Avenue M.G.Road?

The Besant Nagar 7th Avenue M.G.Road falls under 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 helps to ensure that the transaction is recorded accurately and fairly, reflecting the official value set by the government. This value is essential for both buyers and sellers to understand their financial obligations during the property transfer process.

Frequently asked questions

What is the current guideline value of Besant Nagar 7th Avenue M.G.Road?

The current guideline value of Besant Nagar 7th Avenue M.G.Road 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 5,500 per sq.ft in 2007 to Rs 12,700 per sq.ft in 2024, marking an overall increase of 131% over the years.

What is the land classification for this area?

Besant Nagar 7th Avenue M.G.Road is classified as Residential Special Type - I, indicating its designation for residential use.

Where can I find the Adayar Sub Registrar Office?

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

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 1,27,00,000 incurs a stamp duty of Rs 8,89,000 at a rate of 7%.