Guideline Value for DR. BESANT ROAD

Dr. Besant Road guideline value

The current guideline value of Dr. Besant Road is Rs 13,200 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class II Type - I.

How the guideline value of Dr. Besant Road has changed

The guideline value of Dr. Besant Road has seen significant changes over the years. In 2002, the value was Rs 1,323 per sq.ft, which increased to Rs 1,470 per sq.ft in 2003, marking an increase of 11%. The value then rose to Rs 1,540 per sq.ft in 2007, reflecting a 5% increase. A substantial jump occurred in 2012 when the value reached Rs 12,000 per sq.ft, indicating a remarkable increase of 679% from the previous revision. However, in 2017, the value decreased to Rs 8,040 per sq.ft, showing a decline of 33%.

Continuing from 2017, the guideline value increased to Rs 12,000 per sq.ft in 2023, which was a 49% rise. The most recent revision in 2024 saw the value reach Rs 13,200 per sq.ft, representing a 10% increase from the previous year. There are no figures available for the revisions in the years not mentioned in the register for this street.

Guideline values in Mylapore

Mylapore village has a total of 883 streets under the Mylapore SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, placing Dr. Besant Road's 2024 figure above that median.

• Dr.D.G.S.Dinakaran Salai: Rs 17,600 per sq.ft (2024)
• Dr. Natesan Road: Rs 13,200 per sq.ft (2024)
• Dr. Radhakrishnan 1st Street: Rs 16,500 per sq.ft (2024)
• Dr. Radhakrishnan 2nd Street: Rs 16,500 per sq.ft (2024)
• Dr. Radhakrishnan 3rd Street: Rs 16,500 per sq.ft (2024)
• Dr. Radhakrishnan 4th Lane: Rs 25,800 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Besant Road

For a 1,000 sq.ft plot at the current rate of Rs 13,200 per sq.ft, the guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, while the registration fee at 2% would be Rs 2,64,000, totaling Rs 11,88,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Dr. Besant Road?

The Sub Registrar Office that covers Dr. Besant Road is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the transaction is recorded at a fair value as per the local regulations.

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 appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Dr. Besant Road?

The current guideline value of Dr. Besant Road is Rs 13,200 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 1,323 per sq.ft in 2002 to Rs 13,200 per sq.ft in 2024, reflecting an overall increase of 898% over the years.

What is the land classification of Dr. Besant Road?

Dr. Besant Road is classified as Residential Class II Type - I, which indicates its suitability for residential development.

What are the stamp duty rates applicable for property transactions?

The stamp duty for property transactions in Dr. Besant Road is charged at 7% of the guideline value or sale price, whichever is higher. The registration fee is charged at 2%.

Where is the Sub Registrar Office located for Dr. Besant Road?

The Mylapore Sub Registrar Office is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.