Guideline Value for Brindavan Nagar 2nd Street

Brindavan Nagar 2nd Street guideline value

The current guideline value of Brindavan Nagar 2nd Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Brindavan Nagar 2nd Street has changed

The guideline value for Brindavan Nagar 2nd Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,700 per sq.ft, an increase of 8% from the 2023 revision of Rs 2,500 per sq.ft. Prior to that, the 2017 revision recorded a value of Rs 1,675 per sq.ft, marking a significant increase of 49% to the 2023 figure. The 2012 revision also listed a value of Rs 2,500 per sq.ft, which represented a decrease of 33% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 8%.

It is important to note that there are no recorded figures for Brindavan Nagar 2nd Street in the revisions for the years 2002, 2003, and 2007. This lack of data indicates that the guideline value for this street was not established in those years.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value, ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which matches the current guideline value for Brindavan Nagar 2nd Street.

• Brindavan Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Brindavan Nagar Main Road: Rs 2,700 per sq.ft (2024)
• Brindavan Nagar: Rs 2,700 per sq.ft (2024)
• Brindavanam Garden: Rs 2,700 per sq.ft (2024)
• Bose Road (Krishnamoorthy Nagar): Rs 2,700 per sq.ft (2024)
• Bose Cross Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Brindavan Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, resulting in a total cost of Rs 2,43,000. It is essential to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more accurate estimates based on your specific property details.

Which Sub Registrar Office covers Brindavan Nagar 2nd Street?

The Sub Registrar Office that covers Brindavan Nagar 2nd Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For further assistance, you can find your SRO.

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

The guideline value plays a crucial role in property transactions in Kodungaiyur, particularly during the registration process. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in official documents.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial implications associated with the transfer of property ownership.

Frequently asked questions

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

The current guideline value of Brindavan Nagar 2nd Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,675 per sq.ft in 2017 to Rs 2,500 per sq.ft in 2023, and then to Rs 2,700 per sq.ft in 2024. This reflects an overall increase of 8% from 2012 to 2024.

What is the stamp duty for property in Brindavan Nagar 2nd Street?

The stamp duty for property in Brindavan Nagar 2nd Street is 7% of the guideline value. For a property valued at Rs 27,00,000, the stamp duty would amount to Rs 1,89,000.

Which office handles property registrations for Brindavan Nagar 2nd Street?

The Madhavaram Sub Registrar Office handles property registrations for Brindavan Nagar 2nd Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

Are there other streets with the same guideline value in Kodungaiyur?

Yes, several other streets in Kodungaiyur have the same guideline value of Rs 2,700 per sq.ft, including Brindavan Nagar 1st Street, Brindavan Nagar Main Road, and Bose Road (Krishnamoorthy Nagar), among others.