Guideline Value for Brindhavan Nagar South Cross Street

Brindhavan Nagar South Cross Street guideline value

The current guideline value of Brindhavan Nagar South Cross 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 it falls under the Residential Special Type - I land classification.

How the guideline value of Brindhavan Nagar South Cross Street has changed

The guideline value for Brindhavan Nagar South Cross Street has undergone several revisions over the years. In the 2012 revision, the guideline value was set at Rs 2,000 per sq.ft. This figure decreased significantly to Rs 1,340 per sq.ft in the 2017 revision, marking a decline of 33%. However, the 2024 revision saw a substantial increase, bringing the value back up to Rs 2,200 per sq.ft, which represents a 64% increase from 2017.

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

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 for these streets is Rs 2,400 per sq.ft, indicating that the guideline value for Brindhavan Nagar South Cross Street is below this median.

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

Stamp duty and registration fee for property in Brindhavan Nagar South Cross 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 charges to Rs 1,98,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more accurate estimates.

Which Sub Registrar Office covers Brindhavan Nagar South Cross Street?

The Sub Registrar Office that covers Brindhavan Nagar South Cross 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, 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 a crucial factor when buying or selling property in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware that the guideline value directly influences the stamp duty and registration fees applicable during the transaction.

When registering a property, the guideline value ensures that the transaction is documented accurately and reflects the property's worth according to official records. This helps maintain transparency and fairness in property dealings within the region.

Frequently asked questions

What is the current guideline value of Brindhavan Nagar South Cross Street?

The current guideline value of Brindhavan Nagar South Cross 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. Overall, there has been a 10% increase from 2012 to 2024.

What is the land classification for this street?

Brindhavan Nagar South Cross Street is classified as Residential Special Type - I, indicating its suitability for residential development.

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 this area?

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