Guideline Value for Bestha Veethi

Bestha Veethi guideline value

The current guideline value of Bestha Veethi is Rs 350 per sq.ft, effective from 1 July 2024. This street is located in Arani village under the Arani_Tiruvallur SRO, classified as Residential Class II Type - II.

How the guideline value of Bestha Veethi has changed

The guideline value for Bestha Veethi has seen several revisions over the years. In 2002, the value was Rs 73 per sq.ft, which increased to Rs 82 per sq.ft in 2003. Following this, the value rose significantly to Rs 150 per sq.ft in 2007, and then to Rs 350 per sq.ft in 2012. However, there was a decrease to Rs 234 per sq.ft in 2017. The value remained at Rs 350 per sq.ft in both the 2023 and 2024 revisions, showing no change between these two years.

From 2017 to 2023, the value increased by 50%. The jump from 2007 to 2012 was a notable 133%, while the increase from 2003 to 2007 was 83%. Overall, from 2002 to 2024, the guideline value has risen by 379%.

Guideline values in Arani

In Arani, there are 51 streets under the Arani_Tiruvallur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 600 per sq.ft, with a median value of Rs 300 per sq.ft. Bestha Veethi's 2024 figure of Rs 350 per sq.ft is above this median.

• Bazzar Street: Rs 600 per sq.ft (2024)
• Balaji Nagar: Rs 200 per sq.ft (2024)
• B.V.T. Nagar: Rs 600 per sq.ft (2024)
• Chetti Street: Rs 500 per sq.ft (2024)
• Athikulam Street: Rs 200 per sq.ft (2024)
• Athikulam Bazzar Street: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Bestha Veethi

For a 1,000 sq.ft plot at the current rate of Rs 350 per sq.ft, the guideline value would be Rs 3,50,000. The stamp duty at 7% would amount to Rs 24,500, and the registration fee at 2% would be Rs 7,000, totaling Rs 31,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bestha Veethi?

The Sub Registrar Office that covers Bestha Veethi is the Arani_Tiruvallur Sub Registrar Office, located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Arani

The guideline value plays a crucial role in the registration process when buying or selling property in Arani. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers should be aware that the guideline value is set by the government and is subject to periodic revisions.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property as determined by the guideline value register.

Frequently asked questions

What is the current guideline value of Bestha Veethi?

The current guideline value of Bestha Veethi is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Bestha Veethi has changed several times, with the most recent revisions showing a value of Rs 350 per sq.ft in both 2023 and 2024, and an increase from Rs 234 per sq.ft in 2017.

What is the land classification for Bestha Veethi?

Bestha Veethi is classified as Residential Class II Type - II, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Bestha Veethi?

The Sub Registrar Office for Bestha Veethi is the Arani_Tiruvallur Sub Registrar Office, located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101.

How is stamp duty calculated for properties in Arani?

Stamp duty for properties in Arani is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 3,50,000 would incur a stamp duty of Rs 24,500 at a rate of 7%.