Guideline Value for Brindhavan Nagar 3rd Street

Brindhavan Nagar 3rd Street guideline value

The current guideline value of Brindhavan Nagar 3rd 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 3rd Street has changed

The guideline value for Brindhavan Nagar 3rd Street has undergone several revisions over the years. The oldest available revision is from 2012, where the guideline value was set at Rs 2,000 per sq.ft. This increased to Rs 1,340 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to the 2024 revision, the value rose significantly by 64% to reach the current rate of Rs 2,200 per sq.ft.

There are no figures available for the years 2023, 2007, 2003, and 2002 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Madambakkam

In Madambakkam, there are 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 value is Rs 2,400 per sq.ft, which means that the guideline value of Brindhavan Nagar 3rd Street is below this median.

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

Stamp duty and registration fee for property in Brindhavan Nagar 3rd Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the 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, totaling 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.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Brindhavan Nagar 3rd Street?

The Brindhavan Nagar 3rd Street is covered by 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

When buying or selling property in Madambakkam, the guideline value is a crucial factor as it determines the minimum value at which a property can be registered. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process. Understanding the guideline value helps in making informed decisions regarding property transactions.

Frequently asked questions

What is the current guideline value of Brindhavan Nagar 3rd Street?

The current guideline value of Brindhavan Nagar 3rd 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 of Brindhavan Nagar 3rd Street?

Brindhavan Nagar 3rd Street is classified as Residential Special Type - I.

Where can I find the Selaiyur Sub Registrar Office?

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 the stamp duty calculated for properties in Brindhavan Nagar 3rd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.