Guideline Value for Brindavan Nagar 1st Cross Street

Brindavan Nagar 1st Cross Street guideline value

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

How the guideline value of Brindavan Nagar 1st Cross Street has changed

The guideline value for Brindavan Nagar 1st Cross Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 750 per sq.ft. This increased significantly to Rs 3,500 per sq.ft in 2012, marking a rise of 367%. However, by 2017, the value dropped to Rs 2,345 per sq.ft, a decrease of 33%. The value then saw a substantial increase to Rs 3,500 per sq.ft in 2023, followed by another rise to Rs 3,850 per sq.ft in 2024, which is a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%, and overall, from 2007 to 2024, the guideline value has increased by 413%. It is important to note that the register does not contain figures for the years 2002 and 2003 for this street.

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 is Rs 3,850 per sq.ft, which is the same as the current value for Brindavan Nagar 1st Cross Street.

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

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, making the total cost Rs 3,46,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Brindavan Nagar 1st Cross Street?

The Sub Registrar Office that covers Brindavan Nagar 1st Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To locate your SRO, you can find your SRO.

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

The guideline value is a critical factor when buying or selling property in Valasaravakkam, as it determines the minimum value at which a property can be registered. Buyers must ensure that the sale price meets or exceeds the guideline value to avoid any legal complications during registration.

Additionally, the guideline value influences the calculation of stamp duty and registration fees, which are based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Brindavan Nagar 1st Cross 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 has changed significantly from Rs 750 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, showing an overall increase of 413% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which Sub Registrar Office is responsible for Brindavan Nagar 1st Cross Street?

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

What is the land classification for Brindavan Nagar 1st Cross Street?

Brindavan Nagar 1st Cross Street falls under the Residential Class II Type - I land classification.