Guideline Value for Brindhavan Nagar 2nd Street

Brindhavan Nagar 2nd Street guideline value

The current guideline value of Brindhavan Nagar 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Brindhavan Nagar 2nd Street has changed

The guideline value for Brindhavan Nagar 2nd Street has undergone several revisions over the years. The earliest recorded revision was in 2012, where the value was set at Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in the 2017 revision, marking a decline of 33%. However, in the 2024 revision, the guideline value increased significantly to Rs 2,200 per sq.ft, representing a 64% rise from the 2017 figure.

Overall, comparing the 2012 and 2024 revisions, the guideline value has seen a modest increase of 10%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Madambakkam

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

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

Stamp duty and registration fee for property in Brindhavan Nagar 2nd Street

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

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

Which Sub Registrar Office covers Brindhavan Nagar 2nd Street?

The Sub Registrar Office that covers Brindhavan Nagar 2nd Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, within the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Madambakkam. It serves as the baseline for calculating stamp duty and registration fees, ensuring that all transactions are conducted fairly and transparently.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to determine the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Brindhavan Nagar 2nd Street?

The current guideline value of Brindhavan Nagar 2nd 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. The overall change from 2012 to 2024 is an increase of 10%.

What are the stamp duty and registration fees for properties here?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 1,98,000.

Which Sub Registrar Office is responsible for Brindhavan Nagar 2nd Street?

The Selaiyur Sub Registrar Office covers Brindhavan Nagar 2nd Street, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.

Are there other streets in Madambakkam with the same guideline value?

Yes, several other streets in Madambakkam have the same guideline value of Rs 2,200 per sq.ft for 2024, including Brindhavan Nagar 1st Street, 2nd Cross Street, 3rd Street, Cross Street, 1st Main Road, and Brindhavan Nagar Enclave.