Guideline Value for Brindhavan Nagar 1st Street

Brindhavan Nagar 1st Street guideline value

The current guideline value of Brindhavan Nagar 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village, under the Selaiyur SRO, and is classified as Residential Special Type - I.

How the guideline value of Brindhavan Nagar 1st Street has changed

The guideline value for Brindhavan Nagar 1st Street has seen several revisions over the years. In 2012, the value was set at Rs 2,000 per sq.ft, which decreased to Rs 1,340 per sq.ft in 2017. This marked a significant drop of 33%. However, from 2017 to 2024, the value increased by 64%, bringing it to the current rate of Rs 2,200 per sq.ft.

Overall, comparing the figures from 2012 to 2024, there has been a modest increase of 10%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 in the register for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, placing Brindhavan Nagar 1st Street's 2024 figure below that median.

• Brindhavan Nagar 1st Main Road: Rs 2,200 per sq.ft (2024)
• Brindhavan Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Brindhavan Nagar 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Brindhavan Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Brindhavan Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Brindhavan Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Brindhavan Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, leading to a total cost of Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator to estimate your costs accurately.

Which Sub Registrar Office covers Brindhavan Nagar 1st Street?

The Brindhavan Nagar 1st Street falls under the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions in Madambakkam, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that both parties are aware of the financial implications involved in the transaction.

It is crucial for buyers and sellers to understand that the guideline value serves as a reference point during registration. This value is intended to reflect the market conditions and is updated periodically to ensure it remains relevant.

Frequently asked questions

What is the current guideline value of Brindhavan Nagar 1st Street?

The current guideline value of Brindhavan Nagar 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, and then increased to Rs 2,200 per sq.ft in 2024.

What is the land classification for Brindhavan Nagar 1st Street?

Brindhavan Nagar 1st Street is classified as Residential Special Type - I.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Brindhavan Nagar 1st Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 1,54,000.