Guideline Value for Brindavan Nagar 5th Cross Street

Brindavan Nagar 5th Cross Street guideline value

The current guideline value of Brindavan Nagar 5th 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. The land classification for this area is Residential Class II Type - I.

How the guideline value of Brindavan Nagar 5th Cross Street has changed

The guideline value for Brindavan Nagar 5th Cross Street has undergone several revisions over the years. In 2007, the value was set at Rs 750 per sq.ft. This increased significantly to Rs 3,500 per sq.ft in 2012, marking a rise of 367%. However, from 2012 to 2017, the value decreased to Rs 2,345 per sq.ft, a drop of 33%. The subsequent revision in 2017 saw a substantial increase to Rs 3,500 per sq.ft in 2023, which was a rise of 49%. The most recent revision in 2024 has set the value at Rs 3,850 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 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 that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,850 per sq.ft, which is the same as the current value for Brindavan Nagar 5th Cross Street.

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

Stamp duty and registration fee for property in Brindavan Nagar 5th 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 is Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total 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. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Brindavan Nagar 5th Cross Street?

The Sub Registrar Office that covers Brindavan Nagar 5th 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 is a critical factor when registering property transactions in Valasaravakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential for buyers to be aware of the guideline value to ensure that they are not overpaying for a property, while sellers must consider it when setting their sale price.

Frequently asked questions

What is the current guideline value of Brindavan Nagar 5th Cross Street?

The current guideline value of Brindavan Nagar 5th 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 from Rs 750 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 413% over the years.

What is the median guideline value in Valasaravakkam?

The median guideline value for streets in Valasaravakkam is Rs 3,850 per sq.ft, which is the same as the current value for Brindavan Nagar 5th Cross Street.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in this area is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Virugambakkam Sub Registrar Office located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.