Guideline Value for BRAHMIN STREET

Brahmin Street guideline value

The current guideline value of Brahmin Street in Nemilicherry village is Rs 2,160 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class II Type - I.

How the guideline value of Brahmin Street has changed

Looking at the historical revisions, the guideline value for Brahmin Street was Rs 2,000 per sq.ft in 2023 and Rs 1,340 per sq.ft in 2017. There was a significant increase of 49% from 2017 to 2023, followed by an 8% rise from 2023 to 2024, bringing the current value to Rs 2,160 per sq.ft.

Prior to 2017, the guideline value was Rs 2,000 per sq.ft in 2012, which represented a decrease of 33% from the previous value. The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has seen an increase of 8%.

Guideline values in Nemilicherry

In Nemilicherry, there are 172 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft, with a median value of Rs 2,160 per sq.ft. Brahmin Street's 2024 guideline value matches this median.

• Bhel Avenue: Rs 2,200 per sq.ft (2024)
• Bhavani Nagar: Rs 2,200 per sq.ft (2024)
• Bharthipuram 4th Street: Rs 2,750 per sq.ft (2024)
• Bharthipuram 3rd Street: Rs 2,750 per sq.ft (2024)
• Bharthipuram 1st Street & 2nd Street: Rs 2,750 per sq.ft (2024)
• Bharthipuram: Rs 2,750 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 2,160 per sq.ft, the total guideline value would be Rs 21,60,000. The stamp duty at 7% would amount to Rs 1,51,200, and the registration fee at 2% would be Rs 43,200, bringing the total to Rs 1,94,400. Duty is charged on the higher of the guideline value and the sale price.

For more details, 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 Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is crucial during property registration in Nemilicherry. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property in the eyes of the law. It is important to note that the final registration cost may vary based on the sale price or the guideline value, whichever is higher.

Frequently asked questions

What is the current guideline value of Brahmin Street?

The current guideline value of Brahmin Street is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,340 per sq.ft in 2017 to Rs 2,160 per sq.ft in 2024, with a significant increase of 49% between 2017 and 2023, followed by an 8% increase from 2023 to 2024.

What is the land classification for Brahmin Street?

Brahmin Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Brahmin Street?

The Sub Registrar Office for Brahmin Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is stamp duty calculated for properties on Brahmin Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For a property valued at Rs 21,60,000, the stamp duty would be Rs 1,51,200 at a rate of 7%.