Guideline Value for Bramin Street

Bramin Street guideline value

The current guideline value of Bramin Street in Zaminpallavaram village is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class I Type - II.

How the guideline value of Bramin Street has changed

The guideline value for Bramin Street has seen several revisions over the years. In 2003, the value was Rs 166 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2007, marking a rise of 261%. The value then surged to Rs 3,000 per sq.ft in 2012, reflecting a remarkable increase of 400%. However, it dropped to Rs 2,010 per sq.ft in 2017, a decrease of 33%. The value climbed again to Rs 3,000 per sq.ft in 2023, and most recently, it has risen to Rs 3,300 per sq.ft in 2024, showing a 10% increase.

Overall, from 2003 to 2024, the guideline value has increased by 1888%. The register has no figure for Bramin Street for the year 2002.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which is equal to the current value of Bramin Street.

• B.M. Gopal Street: Rs 3,300 per sq.ft (2024)
• Bujangarao 1st Street: Rs 3,850 per sq.ft (2024)
• Bujangarao 2nd Street: Rs 3,850 per sq.ft (2024)
• Bujangarao Line: Rs 3,850 per sq.ft (2024)
• Big Street(Periya Theru): Rs 3,520 per sq.ft (2024)
• Bhuvaneswari Matha Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Bramin Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Bramin Street?

The Sub Registrar Office that covers Bramin 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 Zaminpallavaram

The guideline value plays a crucial role in the registration process when buying or selling property in Zaminpallavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Bramin Street?

The current guideline value of Bramin 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 changed from Rs 166 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 1888% over the years.

Which Sub Registrar Office covers Bramin Street?

The Pallavaram Sub Registrar Office covers Bramin Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the stamp duty for property in Bramin Street?

The stamp duty for property in Bramin Street is calculated at 7% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the stamp duty would amount to Rs 2,31,000.

What are the other streets in Zaminpallavaram with their guideline values?

Other streets in Zaminpallavaram include B.M. Gopal Street at Rs 3,300 per sq.ft, Bujangarao 1st Street at Rs 3,850 per sq.ft, and Bhuvaneswari Matha Street at Rs 2,750 per sq.ft, among others.