Guideline Value for Besant Nagar 7th Cross Street

Besant Nagar 7th Cross Street guideline value

The current guideline value of Besant Nagar 7th 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 7th Cross Street has changed

The guideline value for Besant Nagar 7th Cross Street has seen significant changes over the years. In 2002, the value was Rs 749 per sq.ft, which increased to Rs 886 per sq.ft in 2003, marking an 18% rise. The value then surged dramatically to Rs 2,800 per sq.ft in 2007, reflecting a 216% increase. Following this, the value rose to Rs 6,000 per sq.ft in 2012, a substantial 114% increase from the previous revision. However, it decreased to Rs 4,020 per sq.ft in 2017, showing a decline of 33% before climbing to Rs 6,000 per sq.ft in 2023. The latest revision in 2024 set the guideline value at Rs 6,600 per sq.ft, a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 781%. There are no figures available for the revisions in years not mentioned in this register.

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 is Rs 6,600 per sq.ft, which is equal to the guideline value of Besant Nagar 7th Cross Street.

• Besant Nagar 7th Avenue M.G.Road: Rs 12,700 per sq.ft (2024)
• Besant Nagar 8th 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 Cross Street: Rs 6,600 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 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. Together, the total cost for these fees would be 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 7th Cross Street?

The Sub Registrar Office that covers Besant Nagar 7th 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 plays a crucial role during the registration process of property transactions in Urur. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers must ensure they are aware of the current guideline value to accurately calculate these costs.

When selling a property, the guideline value serves as a reference point for the transaction. It ensures that the property is registered at a value that is recognized by the government, which helps in maintaining transparency in property dealings.

Frequently asked questions

What is the current guideline value of Besant Nagar 7th Cross Street?

The current guideline value of Besant Nagar 7th 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 749 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 781% over this period.

What is the land classification for Besant Nagar 7th Cross Street?

Besant Nagar 7th Cross Street is classified as Residential Class II Type - I, indicating its use for residential purposes.

What are the stamp duty and registration fees for property transactions?

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. These fees are based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Besant Nagar 7th Cross Street?

The Sub Registrar Office for Besant Nagar 7th Cross Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.