Guideline Value for Besant Nagar 8th Cross Street

Besant Nagar 8th Cross Street guideline value

The current guideline value of Besant Nagar 8th 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 8th Cross Street has changed

The guideline value for Besant Nagar 8th Cross Street has seen several revisions over the years. In 2002, the guideline value was Rs 749 per sq.ft, which increased to Rs 886 per sq.ft in 2003, marking an increase of 18%. The value continued to rise significantly, reaching Rs 2,800 per sq.ft in 2007, an increase of 216%. By 2012, the value was Rs 6,000 per sq.ft, reflecting a substantial increase of 114% from the previous revision. However, from 2012 to 2017, the value decreased to Rs 4,020 per sq.ft, a decline of 33%. The value then rose again to Rs 6,000 per sq.ft in 2023, and finally, it reached the current rate of Rs 6,600 per sq.ft in 2024, representing a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 781%. The register has no figure for the years not listed in the revisions.

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 guideline value is Rs 6,600 per sq.ft, which is equal to the current value of Besant Nagar 8th Cross Street.

• Besant Nagar 7th Cross Street: Rs 6,600 per sq.ft (2024)
• Besant Nagar 9th Cross Street: Rs 6,600 per sq.ft (2024)
• Besant Nagar 7th Avenue M.G.Road: Rs 12,700 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 8th 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, totaling 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 8th Cross Street?

The Sub Registrar Office that covers Besant Nagar 8th 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 property transactions in Urur. It serves as a benchmark for determining the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that the transaction is recorded at a fair value.

During the registration process, the guideline value helps in assessing the property’s worth and ensures that the government receives the appropriate revenue from property transactions. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during the registration of the property.

Frequently asked questions

What is the current guideline value of Besant Nagar 8th Cross Street?

The current guideline value of Besant Nagar 8th 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 the years.

What is the land classification of Besant Nagar 8th Cross Street?

Besant Nagar 8th Cross Street is classified as Residential Class II Type - I.

What other streets have the same guideline value in Urur?

Other streets in Urur that share the same guideline value of Rs 6,600 per sq.ft include Besant Nagar 7th Cross Street, Besant Nagar 9th Cross Street, and Besant Nagar 6th Cross Street.

Where is the Adayar Sub Registrar Office located?

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