Guideline Value for Brindhavan Nagar 5th street

Brindhavan Nagar 5th street guideline value

The current guideline value of Brindhavan Nagar 5th street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Brindhavan Nagar 5th street has changed

The guideline value for Brindhavan Nagar 5th street has seen several revisions over the years. The earliest recorded revision was in 2007, where the value was Rs 1,800 per sq.ft. This increased to Rs 4,000 per sq.ft in 2012, marking a significant rise of 122%. However, in 2017, the value decreased to Rs 2,680 per sq.ft, a decline of 33%. The value then saw a substantial increase to Rs 4,000 per sq.ft in 2023, followed by a further increase to Rs 4,400 per sq.ft in 2024, which is a 10% rise from the previous year.

Between 2017 and 2023, the value rose by 49%. Overall, from 2007 to 2024, the guideline value has increased by 144%. The register does not provide figures for the years 2002 and 2003 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, which is the same as the current value for Brindhavan Nagar 5th street.

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

Stamp duty and registration fee for property in Brindhavan Nagar 5th street

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, while the registration fee at 2% would be Rs 88,000, bringing the total 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.

You can also use our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Brindhavan Nagar 5th street?

The Brindhavan Nagar 5th street is covered by the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For more information, you can find your SRO.

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

The guideline value plays a crucial role during property registration in Velachery. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers should be aware that the guideline value may differ from the sale price, and the higher amount will be used for calculating the applicable duties.

Understanding the guideline value is essential for both buyers and sellers, as it ensures compliance with legal requirements during property transactions. It is advisable to check the latest guideline values before finalizing any property deals.

Frequently asked questions

What is the current guideline value of Brindhavan Nagar 5th street?

The current guideline value of Brindhavan Nagar 5th street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 144% over the years.

What is the stamp duty for property in Brindhavan Nagar 5th street?

The stamp duty for property in Brindhavan Nagar 5th street is 7% of the guideline value or sale price, whichever is higher.

Which office handles property registrations for Brindhavan Nagar 5th street?

The Velacheri Sub Registrar Office handles property registrations for Brindhavan Nagar 5th street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

Where can I find more information about guideline values in Velachery?

For more information about guideline values in Velachery, you can refer to the Registration Department's guideline value register or visit the Velacheri SRO.