Guideline Value for Brahmin Street

Brahmin Street guideline value

The current guideline value of Brahmin Street in Tambaram village, under the Tambaram Joint 1 SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is classified under Residential Class I Type - I.

How the guideline value of Brahmin Street has changed

The guideline value for Brahmin Street has seen several revisions over the years. In 2002, the value was set at Rs 264 per sq.ft. This figure increased to Rs 400 per sq.ft in 2003, marking a 52% rise. The value continued to rise, reaching Rs 500 per sq.ft in 2007, which was a 25% increase from the previous revision. In 2012, the value was Rs 3,000 per sq.ft, reflecting a significant 500% increase from 2007. However, in 2017, it decreased to Rs 2,010 per sq.ft, a drop of 33%.

In the following years, the guideline value increased again, reaching Rs 3,000 per sq.ft in 2023, a 49% rise from 2017. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, which is a 10% increase from the previous year. The register has no figure for this street in the years not listed above.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 8,250 per sq.ft. The median value is Rs 3,300 per sq.ft, which aligns with the current guideline value of Brahmin Street.

• Brindavan Avenue: Rs 3,300 per sq.ft (2024)
• Brindavan Colony: Rs 4,400 per sq.ft (2024)
• Brindavan Nagar: Rs 2,200 per sq.ft (2024)
• Cenwar Nagar: Rs 2,200 per sq.ft (2024)
• Chandran Devanesan Lane: Rs 2,200 per sq.ft (2024)
• Chandran Devanesan Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Brahmin Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Brahmin Street?

The Sub Registrar Office that covers Brahmin Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Tambaram. It determines the minimum value at which the property can be registered, ensuring that the transaction is documented at a fair value.

When you register a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Brahmin Street?

The current guideline value of Brahmin Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 264 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 1150% over this period.

What is the land classification for Brahmin Street?

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

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Tamil Nadu is typically 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%.

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

The Sub Registrar Office for Brahmin Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.