Guideline Value for Brindavan Nagar 2nd Cross Street

Brindavan Nagar 2nd Cross Street guideline value

The current guideline value of Brindavan Nagar 2nd 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 2nd Cross Street has changed

The guideline value for Brindavan Nagar 2nd 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 367% rise. However, the value decreased to Rs 2,345 per sq.ft in 2017, a decline of 33% from the previous revision. Following this, the value saw a substantial increase to Rs 3,500 per sq.ft in 2023, which was a 49% rise. The most recent revision in 2024 set the guideline value at Rs 3,850 per sq.ft, reflecting a 10% increase from 2023.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 413%.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, which matches the guideline value for Brindavan Nagar 2nd Cross Street.

• Brindavan Nagar 1st Main Road: Rs 3,850 per sq.ft (2024)
• Brindavan Nagar 1st 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 2nd 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 amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, while the registration fee at 2% would be Rs 77,000, bringing the total cost for these fees 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.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Brindavan Nagar 2nd Cross Street?

The Sub Registrar Office that covers Brindavan Nagar 2nd Cross 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 in property transactions in Valasaravakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

During the registration process, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives due revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Brindavan Nagar 2nd Cross Street?

The current guideline value of Brindavan Nagar 2nd 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, marking an overall increase of 413% over the years.

What are the stamp duty and registration fees for property transactions?

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 for these fees.

Which Sub Registrar Office covers Brindavan Nagar 2nd Cross Street?

The Virugambakkam Sub Registrar Office covers Brindavan Nagar 2nd Cross Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for Brindavan Nagar 2nd Cross Street?

Brindavan Nagar 2nd Cross Street is classified under Residential Class II Type - I, which indicates its suitability for residential development.