Guideline Value for Brindavan Colony

Brindavan Colony guideline value

The current guideline value of Brindavan Colony, located in Tambaram village under the Tambaram Joint 1 SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Brindavan Colony has changed

Over the years, the guideline value of Brindavan Colony has seen significant changes. In 2007, the guideline value was Rs 500 per sq.ft, which increased dramatically to Rs 4,000 per sq.ft in 2012, reflecting a rise of 700%. However, this value dropped to Rs 2,680 per sq.ft in 2017, a decrease of 33%. The value then rose again to Rs 4,000 per sq.ft in 2023, and currently stands at Rs 4,400 per sq.ft as of the 2024 revision, marking a 10% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%, leading to the current figure of Rs 4,400 per sq.ft. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 780%, showcasing the fluctuations in property valuation in this area.

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 guideline value is Rs 3,300 per sq.ft, and Brindavan Colony's 2024 figure of Rs 4,400 per sq.ft is above this median.

• Brindavan Avenue: Rs 3,300 per sq.ft (2024)
• Brindavan Nagar: Rs 2,200 per sq.ft (2024)
• Brahmin Street: Rs 3,300 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 Brindavan Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total fees to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Brindavan Colony?

The Sub Registrar Office that covers Brindavan Colony 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 plays a crucial role when buying or selling property in Tambaram. It is used to determine the stamp duty and registration fees that need to be paid during the property transaction. This ensures that the transaction is recorded accurately and complies with the regulations set by the local authorities.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This means that understanding the guideline value is essential for both buyers and sellers to ensure they are aware of the costs involved in the transaction.

Frequently asked questions

What is the current guideline value of Brindavan Colony?

The current guideline value of Brindavan Colony is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 500 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 780% over the years.

What is the land classification for Brindavan Colony?

The land classification for Brindavan Colony is Residential Special Type - II.

What are the stamp duty and registration fees for property in Brindavan Colony?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office covers Brindavan Colony?

The Tambaram Joint 1 Sub Registrar Office covers Brindavan Colony, located at No.26, Mes Road, East Tambaram, Chennai-600059.