Guideline Value for Bethel Avenue 2nd Street

Bethel Avenue 2nd Street guideline value

The current guideline value of Bethel Avenue 2nd Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village under the Velacheri SRO, and it falls under the Residential Class II Type - II land classification.

How the guideline value of Bethel Avenue 2nd Street has changed

The guideline value for Bethel Avenue 2nd Street has experienced several revisions over the years. The earliest figure available is from the 2012 revision, which was Rs 4,000 per sq.ft. This was followed by a decrease to Rs 2,680 per sq.ft in the 2017 revision, representing a decline of 33%. The 2023 revision saw an increase to Rs 4,000 per sq.ft, and the current 2024 revision has further increased it to Rs 4,400 per sq.ft, marking a 10% rise from the previous year.

In summary, from 2012 to 2024, the overall change in the guideline value is an increase of 10%. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street in the register.

Guideline values in Velachery

In Velachery, there are a total of 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, which is the same as the current figure for Bethel Avenue 2nd Street.

• Bethel Avenue 1st Street: Rs 4,400 per sq.ft (2024)
• Bethel Avenue 3rd Street: Rs 4,400 per sq.ft (2024)
• Bethel Avenue 4th Street: Rs 4,400 per sq.ft (2024)
• Bethal Avenue: Rs 4,400 per sq.ft (2024)
• Bharani Street Udhayam Nagar Annex: Rs 3,850 per sq.ft (2024)
• Belshakthi Nagar Main Road: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Bethel Avenue 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that stamp duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bethel Avenue 2nd Street?

The Sub Registrar Office that covers Bethel Avenue 2nd Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Velachery. It is used to determine the amount of stamp duty and registration fees that need to be paid, ensuring that the transaction is legally documented.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bethel Avenue 2nd Street?

The current guideline value of Bethel Avenue 2nd Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then back to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What is the land classification for Bethel Avenue 2nd Street?

Bethel Avenue 2nd Street falls under the Residential Class II Type - II land classification.

Where can I find the registration office for Bethel Avenue 2nd Street?

The registration office for Bethel Avenue 2nd Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in Velachery?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 44,00,000, the stamp duty at 7% would be Rs 3,08,000.