Guideline Value for BRINDAVAN STREET

Brindavan Street guideline value

The current guideline value of Brindavan Street is Rs 8,200 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village and falls under the Mylapore SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Brindavan Street has changed

The guideline value for Brindavan Street has seen several revisions over the years. In 2002, the value was Rs 1,093 per sq.ft, which increased to Rs 1,214 per sq.ft in 2003. The following revision in 2007 saw a significant jump to Rs 1,540 per sq.ft. By 2012, the value rose to Rs 7,500 per sq.ft, but it then decreased to Rs 5,025 per sq.ft in 2017. The most recent revision in 2023 set the value at Rs 7,500 per sq.ft, leading to the current figure of Rs 8,200 per sq.ft in 2024, marking a 9% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 650%. The revisions show a notable fluctuation, particularly with the sharp rise from Rs 1,540 per sq.ft in 2007 to Rs 7,500 per sq.ft in 2012, and a subsequent decrease to Rs 5,025 per sq.ft in 2017. There are no figures available for the years not listed in the register for this street.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO with a 2024 guideline value range 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 Brindavan Street's 2024 figure below this median.

• Bucks Road: Rs 15,900 per sq.ft (2024)
• Boat Club Road 3rd Avenue: Rs 25,300 per sq.ft (2024)
• Boat Club Road 2nd Avenue: Rs 25,300 per sq.ft (2024)
• Byepass Road (Lighthouse To Foreshore Estate): Rs 6,000 per sq.ft (2024)
• Boat Club Road 1st Avenue: Rs 25,300 per sq.ft (2024)
• Boat Club Road: Rs 25,300 per sq.ft (2024)

Stamp duty and registration fee for property in Brindavan Street

For a 1,000 sq.ft plot at the current rate of Rs 8,200 per sq.ft, the guideline value amounts to Rs 82,00,000. The stamp duty at 7% would be Rs 5,74,000, and the registration fee at 2% would be Rs 1,64,000, totaling Rs 7,38,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Brindavan Street?

The Sub Registrar Office that covers Brindavan Street 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 details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Mylapore. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers need to be aware of this value to ensure compliance with local regulations.

When a property transaction occurs, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, which is essential for maintaining public services and infrastructure.

Frequently asked questions

What is the current guideline value of Brindavan Street?

The current guideline value of Brindavan Street is Rs 8,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 1,093 per sq.ft in 2002 to Rs 8,200 per sq.ft in 2024, marking a total increase of 650% over the years.

What is the land classification for Brindavan Street?

Brindavan Street is classified as Residential Class IV Type - I, which indicates its designation for residential purposes.

What are the stamp duty and registration fees for properties on Brindavan Street?

For a property valued at Rs 82,00,000, the stamp duty would be Rs 5,74,000 and the registration fee would be Rs 1,64,000, totaling Rs 7,38,000.

Where is the Sub Registrar Office for Brindavan Street located?

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