Guideline Value for Brindavanam 1st street

Brindavanam 1st street guideline value

The current guideline value of Brindavanam 1st street is Rs 3,400 per sq.ft, effective from 1 July 2024. This street is located in Egmore village, under the Periamet SRO, and is classified as Residential Class III Type - II.

How the guideline value of Brindavanam 1st street has changed

Over the years, the guideline value for Brindavanam 1st street has undergone several revisions. The earliest recorded figure is from 2007, where the value was Rs 800 per sq.ft. This increased significantly to Rs 3,100 per sq.ft in 2012, marking an increase of 288%. However, in 2017, the value dropped to Rs 2,077 per sq.ft, reflecting a decrease of 33%. The value then rose again to Rs 3,100 per sq.ft in 2023, a substantial increase of 49%. The most recent revision in 2024 has set the value at Rs 3,400 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no recorded figures for Brindavanam 1st street in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 325%.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft, with a median value of Rs 7,100 per sq.ft. The guideline value of Brindavanam 1st street is below this median.

• Brindavanam 2nd street: Rs 3,400 per sq.ft (2024)
• Brindavanam 3rd street: Rs 3,400 per sq.ft (2024)
• Brindavanam 4th street: Rs 3,400 per sq.ft (2024)
• Brindavanam 5th street: Rs 3,400 per sq.ft (2024)
• Brindavanam 6th street: Rs 3,400 per sq.ft (2024)
• Brindavanam street: Rs 3,400 per sq.ft (2024)

Stamp duty and registration fee for property in Brindavanam 1st street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,400 per sq.ft, the total guideline value would be Rs 34,00,000. The stamp duty, charged at 7%, would amount to Rs 2,38,000, and the registration fee at 2% would be Rs 68,000. Together, the total cost for stamp duty and registration fees would be Rs 3,06,000. It is essential to note that duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Brindavanam 1st street?

The Brindavanam 1st street falls under the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. For further information, you can find your SRO.

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

The guideline value is an essential factor during the registration of property transactions in Egmore. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps in establishing the sale price. Buyers and sellers must be aware that the stamp duty is calculated based on the higher value between the guideline value and the sale price, ensuring that the transaction is conducted fairly and transparently.

Frequently asked questions

What is the current guideline value of Brindavanam 1st street?

The current guideline value of Brindavanam 1st street is Rs 3,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 3,400 per sq.ft in 2024, marking an overall increase of 325% over this period.

What is the land classification of Brindavanam 1st street?

Brindavanam 1st street is classified as Residential Class III Type - II.

Where is the Periamet Sub Registrar Office located?

The Periamet Sub Registrar Office is located at 1103, Poonamallee High Road, Chennai-600 003.

How is stamp duty calculated for properties in Brindavanam 1st street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 34,00,000, the stamp duty would be Rs 2,38,000.