Guideline Value for BRAHMIN STREET

Brahmin Street guideline value

The current guideline value of Brahmin Street in Korattur village, under the Villivakkam SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - III land classification.

How the guideline value of Brahmin Street has changed

The guideline value for Brahmin Street has seen several revisions over the years. In 2007, the value was Rs 250 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a 900% rise. However, it then decreased to Rs 1,675 per sq.ft in 2017, a decline of 33%. Following this, the value surged to Rs 2,500 per sq.ft in 2023, and finally reached Rs 2,700 per sq.ft in 2024, reflecting an 8% increase from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 980%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO, with guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, placing Brahmin Street's 2024 guideline value above this median.

• Brindavan Nagar: Rs 2,700 per sq.ft (2024)
• Bhoopathi Nagar: Rs 2,900 per sq.ft (2024)
• Bhavani Nagar: Rs 1,600 per sq.ft (2024)
• Bharathrathna Rajigandhi Nagar (Kallikuppam): Rs 1,600 per sq.ft (2024)
• Bharath Nagar Extension: Rs 2,500 per sq.ft (2024)
• Bharath Nagar: Rs 2,500 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 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty, charged at 7%, would be Rs 1,89,000, while the registration fee at 2% would be Rs 54,000. Together, the total cost for these fees would be Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Brahmin Street?

The Sub Registrar Office that covers Brahmin Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Korattur as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on the guideline value or the sale price, whichever is higher.

When purchasing property, it is essential to be aware that the guideline value can affect the overall cost of the transaction. This includes not only the purchase price but also the associated fees, which are calculated based on the guideline value established by the registration department.

Frequently asked questions

What is the current guideline value of Brahmin Street?

The current guideline value of Brahmin Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 250 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, marking an overall increase of 980%.

What are the stamp duty and registration fees for property on Brahmin Street?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which Sub Registrar Office covers Brahmin Street?

The Villivakkam Sub Registrar Office covers Brahmin Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Brahmin Street?

Brahmin Street falls under the Residential Class I Type - III land classification.