Guideline Value for BRAHMIN STREET

Brahmin Street guideline value

The current guideline value of Brahmin Street in Saidapet village is Rs 5,500 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class I Type - II.

How the guideline value of Brahmin Street has changed

The guideline value for Brahmin Street has seen significant changes over the years. In 2002, the value was Rs 621 per sq.ft, which increased to Rs 777 per sq.ft in 2003, marking a 25% rise. The value continued to grow, reaching Rs 1,300 per sq.ft in 2007, a substantial increase of 67%. However, it decreased to Rs 5,000 per sq.ft in 2012, reflecting a decline of 33% from the previous revision.

From 2012, the guideline value saw a rise to Rs 3,350 per sq.ft in 2017, followed by a significant jump to Rs 5,000 per sq.ft in 2023, which was a 49% increase. The latest revision in 2024 set the value at Rs 5,500 per sq.ft, representing a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has risen by 786%.

Guideline values in Saidapet

In Saidapet, there are 106 streets under the Chennai South Joint II SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing Brahmin Street's 2024 figure above this median.

• B.K. Maistry Street: Rs 4,400 per sq.ft (2024)
• Bharathiyar Street (Hospital Road): Rs 4,400 per sq.ft (2024)
• Bharathiyar Street (Abith Colony): Rs 4,400 per sq.ft (2024)
• Central Exercise Colony: Rs 4,950 per sq.ft (2024)
• Chetty Street: Rs 4,400 per sq.ft (2024)
• Chetty Thottam Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Brahmin Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total to Rs 4,95,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Brahmin Street?

Brahmin Street is covered by the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Saidapet. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value helps both parties understand the financial implications of the transaction. It is essential for buyers to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Brahmin Street?

The current guideline value of Brahmin Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 621 in 2002 to Rs 5,500 in 2024, reflecting an overall increase of 786%.

What is the land classification of Brahmin Street?

Brahmin Street is classified as Residential Class I Type - II under the Chennai South Joint II SRO.

Where can I find the registration office for Brahmin Street?

The registration office for Brahmin Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for property in Brahmin Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 at 7%.