Guideline Value for Brindavan Gardens

Brindavan Gardens guideline value

The current guideline value of Brindavan Gardens is Rs 385 per sq.ft, effective from 1 July 2024. This area is located in Perungavur village under the Redhills SRO and is classified as Residential Class I Type - I.

How the guideline value of Brindavan Gardens has changed

The guideline value for Brindavan Gardens has seen significant changes over the years. In 2003, the value was Rs 31 per sq.ft, which increased dramatically to Rs 300 per sq.ft by 2007. The value then adjusted to Rs 350 per sq.ft in 2012 before dropping to Rs 234 per sq.ft in 2017. Following this, the value rose to Rs 350 per sq.ft in 2023, and most recently, it has increased to Rs 385 per sq.ft in 2024, marking a 10% rise from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1142%. The register does not have a figure for the year 2002 for this street.

Guideline values in Perungavur

In Perungavur, there are 79 streets under the Redhills SRO, with guideline values ranging from Rs 220 to Rs 1,500 per sq.ft. The median guideline value in this area is Rs 275 per sq.ft, making Brindavan Gardens' 2024 figure of Rs 385 per sq.ft above the median.

• Brindavan Garden Annex: Rs 275 per sq.ft (2024)
• Bethel: Rs 900 per sq.ft (2024)
• Bala Murugan Nagar Annex: Rs 220 per sq.ft (2024)
• Ashok Metrovaram Phase-II: Rs 770 per sq.ft (2024)
• Golden Garden: Rs 385 per sq.ft (2024)
• Golden Nagar: Rs 220 per sq.ft (2024)

Stamp duty and registration fee for property in Brindavan Gardens

For a 1,000 sq.ft plot at the current guideline value of Rs 385 per sq.ft, the total guideline value would be Rs 3,85,000. The stamp duty at 7% would be Rs 26,950, and the registration fee at 2% would be Rs 7,700, bringing the total fees to Rs 34,650. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Brindavan Gardens?

The Sub Registrar Office that covers Brindavan Gardens is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value plays a crucial role when buying or selling property in Perungavur. It is used to determine the stamp duty and registration fees that need to be paid during the property transaction. Buyers should be aware that the guideline value is often used as a benchmark for the official valuation of the property.

During registration, the guideline value is compared to the sale price, and the higher of the two is considered for calculating the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Brindavan Gardens?

The current guideline value of Brindavan Gardens is Rs 385 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 31 per sq.ft in 2003 to Rs 385 per sq.ft in 2024. The most notable increase was from 2003 to 2007, where it rose by 868%.

What is the registration fee for property in Brindavan Gardens?

The registration fee is calculated based on the guideline value. For a property valued at Rs 3,85,000, the registration fee would be Rs 7,700, which is 2% of the guideline value.

Which office handles property registrations in Brindavan Gardens?

The Redhills Sub Registrar Office handles property registrations for Brindavan Gardens. It is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the significance of the guideline value when buying property?

The guideline value is significant as it determines the stamp duty and registration fees payable during a property transaction. It serves as a benchmark for the official valuation of the property being bought or sold.