Guideline Value for Brindavan 1st Street

Brindavan 1st Street guideline value

The current guideline value of Brindavan 1st Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village under the Virugambakkam SRO, classified as Residential Class II Type - I.

How the guideline value of Brindavan 1st Street has changed

The guideline value for Brindavan 1st Street has seen several revisions over the years. In 2012, the guideline value was Rs 3,500 per sq.ft, which remained unchanged until the 2023 revision. In 2023, the value was updated to Rs 3,500 per sq.ft, and then increased by 10% to Rs 3,850 per sq.ft in the 2024 revision.

There are no recorded figures for the years 2002, 2003, 2007, and 2017 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,850 per sq.ft, which matches the current value for Brindavan 1st Street.

• Brindavan 2nd Street: Rs 3,850 per sq.ft (2024)
• Brindavan 3rd Street: Rs 3,850 per sq.ft (2024)
• Brindavan 4th Street: Rs 3,850 per sq.ft (2024)
• Brindavan 5th Street: Rs 3,850 per sq.ft (2024)
• Brindavan 6th Street: Rs 3,850 per sq.ft (2024)
• Brindavan Nagar 1st Cross Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Brindavan 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. It is important to note that the 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 more information.

Which Sub Registrar Office covers Brindavan 1st Street?

The Sub Registrar Office that covers Brindavan 1st Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Valasaravakkam. It is used to determine the stamp duty and registration fees that must be paid, ensuring that the transaction is officially recorded.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that all property transactions are subject to the same regulatory framework, providing transparency and consistency.

Frequently asked questions

What is the current guideline value of Brindavan 1st Street?

The current guideline value of Brindavan 1st Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Brindavan 1st Street was Rs 3,500 per sq.ft in 2012 and remained the same until 2023. In 2023, it was revised to Rs 3,500 per sq.ft, and then increased to Rs 3,850 per sq.ft in 2024.

What is the land classification for Brindavan 1st Street?

Brindavan 1st Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Brindavan 1st Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in Valasaravakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 38,50,000, the stamp duty would be calculated at 7% of this amount.