Guideline Value for BRITTANIA NAGAR

Brittania Nagar guideline value

The current guideline value of Brittania Nagar is Rs 300 per sq.ft, effective from 1 July 2024. This area is located in Kovilkuppam village under the Manavalanagar SRO, classified as Residential Class III Type - I.

How the guideline value of Brittania Nagar has changed

The guideline value for Brittania Nagar has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 300 per sq.ft, which then decreased to Rs 201 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 300 per sq.ft in both the 2023 and 2024 revisions, resulting in an overall change of +0% from 2012 to 2024.

Between the 2017 and 2023 revisions, the guideline value increased by 49%. Notably, the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kovilkuppam

Kovilkuppam village has a total of 68 streets under the Manavalanagar SRO, with guideline values ranging from Rs 300 to Rs 800 per sq.ft. The median guideline value for these streets is Rs 350 per sq.ft, placing Brittania Nagar's current value below this median.

• Bhavani Nagar: Rs 350 per sq.ft (2024)
• Chinnasamy Avenue: Rs 300 per sq.ft (2024)
• Bala Murugan Nagar: Rs 300 per sq.ft (2024)
• D.N.S.nagar: Rs 301 per sq.ft (2024)
• D.N.S.nagar Phaase I: Rs 375 per sq.ft (2024)
• Dollar County Phase 1: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Brittania Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total fees to Rs 27,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Brittania Nagar?

The Sub Registrar Office covering Brittania Nagar is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Kovilkuppam. It is used to determine the stamp duty and registration fees payable when buying or selling property. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations and to calculate the associated costs accurately.

When a property is registered, the guideline value is used as a benchmark to assess the transaction value. If the sale price is higher than the guideline value, the stamp duty will be calculated based on the sale price instead.

Frequently asked questions

What is the current guideline value of Brittania Nagar?

The current guideline value of Brittania Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2012 to Rs 201 per sq.ft in 2017, then back to Rs 300 per sq.ft in 2023 and 2024. The overall change from 2012 to 2024 is +0%.

What is the median guideline value in Kovilkuppam?

The median guideline value for the streets in Kovilkuppam is Rs 350 per sq.ft, with Brittania Nagar's current value being below this median.

What are the stamp duty rates for property transactions?

The stamp duty rate is 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2% of the guideline value or sale price.

Where can I find the Sub Registrar Office for Brittania Nagar?

The Sub Registrar Office for Brittania Nagar is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.