Guideline Value for Brindhavan Colony

Brindhavan Colony guideline value

The current guideline value for Brindhavan Colony, located in Velachery village under the Velacheri SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - II.

How the guideline value of Brindhavan Colony has changed

Looking at the historical revisions, the guideline value for Brindhavan Colony was Rs 4,000 per sq.ft in 2012. It decreased to Rs 2,680 per sq.ft during the 2017 revision, marking a decline of 33%. However, from 2017 to 2024, the value increased significantly by 64% to the current Rs 4,400 per sq.ft.

There are no figures available for the years 2023, 2007, 2003, and 2002 for this street. Overall, comparing the values from 2012 to 2024, there has been a modest increase of 10%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, which matches the current value for Brindhavan Colony.

• Brindhavan Nagar: Rs 4,400 per sq.ft (2024)
• Brindhavan Nagar 1st street: Rs 4,400 per sq.ft (2024)
• Brindhavan Nagar 2nd street: Rs 4,400 per sq.ft (2024)
• Brindhavan Nagar 3rd street: Rs 4,400 per sq.ft (2024)
• Brindhavan Nagar 4th Cross street: Rs 4,400 per sq.ft (2024)
• Brindhavan Nagar 4th street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Brindhavan Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty, charged at 7%, would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total cost to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Brindhavan Colony?

The Sub Registrar Office that covers Brindhavan Colony 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 details.

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

The guideline value is a crucial factor during the registration of property in Velachery. It determines the minimum price at which a property can be registered and is used to calculate the stamp duty and registration fees that buyers must pay.

When a property is sold, the guideline value ensures that the transaction is recorded accurately, reflecting the legal value of the property. This helps in maintaining transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Brindhavan Colony?

The current guideline value of Brindhavan Colony is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has seen fluctuations, decreasing to Rs 2,680 per sq.ft in 2017, before increasing to Rs 4,400 per sq.ft in 2024.

What is the land classification of Brindhavan Colony?

Brindhavan Colony is classified as Residential Class II Type - II, indicating its suitability for residential development.

Where can I find the registration office for Brindhavan Colony?

The registration office for Brindhavan Colony is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in Brindhavan Colony?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 44,00,000, the stamp duty at 7% would be Rs 3,08,000.