Guideline Value for Brindavanam Nagar

Brindavanam Nagar guideline value

The current guideline value of Brindavanam Nagar is Rs 1,700 per sq.ft, effective from 1 July 2024. This area is located in Neelankarai village, under the Neelankarai SRO, and is classified as Residential Class III Type - I.

How the guideline value of Brindavanam Nagar has changed

The guideline value for Brindavanam Nagar has seen several revisions over the years. In 2002, the value was Rs 54 per sq.ft, which increased to Rs 59 per sq.ft in 2003. Following this, there was a significant rise to Rs 700 per sq.ft in 2007, and then to Rs 1,500 per sq.ft in 2012. However, the value dropped to Rs 1,005 per sq.ft in 2017, before rising again to Rs 1,500 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 1,700 per sq.ft, reflecting a 13% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 3048%. The revisions have shown a variety of changes, including a 49% increase from 2017 to 2023 and a notable 114% increase from 2007 to 2012. There are no figures available for any other years for this street.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median guideline value for the village is Rs 2,200 per sq.ft, placing Brindavanam Nagar's 2024 figure below that median.

• Blue Breeze: Rs 6,100 per sq.ft (2024)
• Blue Beach Road: Rs 4,400 per sq.ft (2024)
• Blue Beach Lane: Rs 4,400 per sq.ft (2024)
• Blue Beach Kuppam: Rs 1,700 per sq.ft (2024)
• Casuarina Drive: Rs 5,500 per sq.ft (2024)
• Bharathiyar Street (Vaidyalingam Street): Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Brindavanam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Brindavanam Nagar?

The Sub Registrar Office that covers Brindavanam Nagar is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Neelankarai, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees applicable during the transaction.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements and to accurately assess the costs involved in property transactions. The guideline value serves as a benchmark for property transactions within the area.

Frequently asked questions

What is the current guideline value of Brindavanam Nagar?

The current guideline value of Brindavanam Nagar is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 54 per sq.ft in 2002 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 3048% over the years.

What is the stamp duty rate for property in Brindavanam Nagar?

The stamp duty rate for property transactions in Brindavanam Nagar is 7% of the guideline value or sale price, whichever is higher.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the median guideline value in Neelankarai?

The median guideline value in Neelankarai is Rs 2,200 per sq.ft, which is higher than the current guideline value of Brindavanam Nagar.