Guideline Value for Bethaniya Nagar 1st Cross Street

Bethaniya Nagar 1st Cross Street guideline value

The current guideline value of Bethaniya Nagar 1st Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village under the Virugambakkam SRO, classified as Residential Class IV Type - I.

How the guideline value of Bethaniya Nagar 1st Cross Street has changed

According to the register, the guideline value for Bethaniya Nagar 1st Cross Street was last revised in 2012, where it was set at Rs 2,500 per sq.ft. The 2024 revision shows an increase to Rs 2,750 per sq.ft, marking a change of +10% from the 2012 figure. The register has no figures for the years 2002, 2003, 2007, 2017, and 2023 for this street.

Thus, the only revisions recorded for Bethaniya Nagar 1st Cross Street are from 2012 to 2024, reflecting a significant increase in its guideline value over that period.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 8,800 per sq.ft, with a median value of Rs 3,850 per sq.ft. The guideline value for Bethaniya Nagar 1st Cross Street is below this median.

• Bethaniya Nagar 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Bethania Nagar Main Road: Rs 2,750 per sq.ft (2024)
• Bethaniya Nagar 3rd Cross Street: Rs 2,750 per sq.ft (2024)
• Bethaniya Nagar 4th Cross Street: Rs 2,750 per sq.ft (2024)
• Bethania Nagar 7th Street: Rs 2,750 per sq.ft (2024)
• Bethania Nagar 6th Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Bethaniya Nagar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total charges to Rs 2,47,500. Please note that duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bethaniya Nagar 1st Cross Street?

The Sub Registrar Office that covers Bethaniya Nagar 1st Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Valasaravakkam. It is used to determine the amount of stamp duty and registration fees that need to be paid when a property is bought or sold. This value is set by the government and is updated periodically to reflect changes in the market.

When registering a property, 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.

Frequently asked questions

What is the current guideline value of Bethaniya Nagar 1st Cross Street?

The current guideline value of Bethaniya Nagar 1st Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2012?

The guideline value has increased from Rs 2,500 per sq.ft in 2012 to Rs 2,750 per sq.ft in 2024, which is a change of +10%.

What is the land classification for Bethaniya Nagar 1st Cross Street?

Bethaniya Nagar 1st Cross Street is classified as Residential Class IV Type - I.

Where can I find the Sub Registrar Office for this area?

The Virugambakkam Sub Registrar Office covers Bethaniya Nagar 1st Cross Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for the registration fee.