Guideline Value for Brindavanam 2nd street

Brindavanam 2nd street guideline value

The current guideline value of Brindavanam 2nd street is Rs 3,400 per sq.ft, effective from 1 July 2024. This street is located in Egmore village under the Periamet SRO, classified as Residential Class III Type - II.

How the guideline value of Brindavanam 2nd street has changed

The guideline value for Brindavanam 2nd street has undergone several revisions over the years. The earliest recorded figure is from 2002, which was Rs 454 per sq.ft. This increased to Rs 501 per sq.ft in 2003, followed by a significant rise to Rs 800 per sq.ft in 2007. The value then saw a substantial increase to Rs 3,100 per sq.ft in 2012, but dropped to Rs 2,077 per sq.ft in 2017. The guideline value rebounded to Rs 3,100 per sq.ft in 2023 and has now reached Rs 3,400 per sq.ft in the 2024 revision.

In terms of percentage changes, from 2002 to 2024, the overall increase is 649%. The transition from 2017 to 2023 saw a rise of 49%, while the drop from 2012 to 2017 was 33%. The increase from 2007 to 2012 was 288%, and from 2003 to 2007, it was 60%. The change from 2002 to 2003 was 10%.

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. The median guideline value is Rs 7,100 per sq.ft, which means that Brindavanam 2nd street's 2024 figure is below this median.

• Brindavanam 1st 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 2nd 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, bringing the total to Rs 3,06,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Brindavanam 2nd street?

The Brindavanam 2nd street falls under the jurisdiction of the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Egmore. It serves as a benchmark for determining the minimum value of a property for registration purposes. When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees.

During the registration process, the buyer must ensure that the property is registered at or above the guideline value. This ensures compliance with local regulations and helps in the smooth processing of the transaction.

Frequently asked questions

What is the current guideline value of Brindavanam 2nd street?

The current guideline value of Brindavanam 2nd 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 454 per sq.ft in 2002 to Rs 3,400 per sq.ft in 2024, marking an overall increase of 649% over the years.

What is the median guideline value in Egmore?

The median guideline value in Egmore is Rs 7,100 per sq.ft, which is higher than the current guideline value of Brindavanam 2nd street.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 3,06,000.

Which office handles property registrations for Brindavanam 2nd street?

The Periamet Sub Registrar Office is responsible for property registrations for Brindavanam 2nd street, located at 1103, Poonamallee High Road, Chennai-600 003.