Guideline Value for Brindavan Street, Balaiah Nagar,

Brindavan Street, Balaiah Nagar, guideline value

The current guideline value of Brindavan Street, Balaiah Nagar, is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class I Type - I.

How the guideline value of Brindavan Street, Balaiah Nagar, has changed

The guideline value for Brindavan Street, Balaiah Nagar, has undergone several revisions over the years. The 2017 revision set the value at Rs 2,345 per sq.ft, while the latest 2024 revision increased it to Rs 3,850 per sq.ft, marking a significant increase of 64% from the previous figure.

There are no figures available for the years 2023, 2012, 2007, 2003, and 2002 for this street in the register. Therefore, the only relevant revisions are from 2017 to 2024.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,750 per sq.ft, placing Brindavan Street, Balaiah Nagar, above this median.

• Brindavan Street, Balaiah Garden, Srinivasa Nagar: Rs 3,850 per sq.ft (2024)
• Brindavan Street, Balaiah Garden: Rs 3,850 per sq.ft (2024)
• Brindavan Street, Sai Ram Avenue: Rs 3,850 per sq.ft (2024)
• Brindavan Street: Rs 3,850 per sq.ft (2024)
• Bus Terminus Road: Rs 3,300 per sq.ft (2024)
• Bhuvaneshwari Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Brindavan Street, Balaiah Nagar,

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, 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.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Brindavan Street, Balaiah Nagar,?

The Sub Registrar Office that covers Brindavan Street, Balaiah Nagar, is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is crucial when registering a property in Madipakkam-1, as it determines the stamp duty and registration fees applicable for the transaction. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value serves as a benchmark for calculating the taxes owed. It is essential for both parties to be aware of this value to avoid any discrepancies during the transfer of ownership.

Frequently asked questions

What is the current guideline value of Brindavan Street, Balaiah Nagar?

The current guideline value of Brindavan Street, Balaiah Nagar, is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased from Rs 2,345 per sq.ft to Rs 3,850 per sq.ft, which is a change of 64%.

What is the median guideline value for streets in Madipakkam-1?

The median guideline value for streets in Madipakkam-1 is Rs 2,750 per sq.ft, with Brindavan Street, Balaiah Nagar, being above this median at Rs 3,850 per sq.ft.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in Madipakkam-1?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 38,50,000, the stamp duty at 7% would be Rs 2,69,500.