Guideline Value for Brithapet Salai

Brithapet Salai guideline value

The current guideline value of Brithapet Salai is Rs 11,500 per sq.ft, effective from 1 July 2024. This street is located in Vepery village, covered by the Periamet SRO, and falls under the Residential Class I Type - II land classification.

How the guideline value of Brithapet Salai has changed

The guideline value for Brithapet Salai has seen significant changes over the years. In 2007, the value was Rs 3,000 per sq.ft, which increased dramatically to Rs 10,500 per sq.ft by 2012, marking a 250% rise. However, it then decreased to Rs 7,035 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 10,500 per sq.ft in 2023, and most recently, it has increased by 10% to reach Rs 11,500 per sq.ft in the 2024 revision.

From 2017 to 2023, the value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 283%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Vepery

In Vepery, there are 290 streets under the Periamet SRO, with guideline values ranging from Rs 2,200 to Rs 22,000 per sq.ft. The median guideline value is Rs 4,800 per sq.ft, making the 2024 figure for Brithapet Salai significantly above this median.

• Canal Karai Salai: Rs 4,800 per sq.ft (2024)
• Bogipalayam Old lane: Rs 2,700 per sq.ft (2024)
• Bogipalayam New 3rd lane: Rs 2,700 per sq.ft (2024)
• Bogipalayam New 2nd lane: Rs 2,700 per sq.ft (2024)
• Bogipalayam New 1st lane: Rs 2,700 per sq.ft (2024)
• Chengalvarayan Street: Rs 4,800 per sq.ft (2024)

Stamp duty and registration fee for property in Brithapet Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 11,500 per sq.ft, the total guideline value amounts to Rs 1,15,00,000. The stamp duty at 7% would be Rs 8,05,000, and the registration fee at 2% would be Rs 2,30,000, bringing the total fees together to Rs 10,35,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Brithapet Salai?

The Sub Registrar Office that covers Brithapet Salai is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Vepery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is compared with the actual sale price. The higher amount is used to calculate the applicable stamp duty, ensuring compliance with the legal requirements set by the Registration Department.

Frequently asked questions

What is the current guideline value of Brithapet Salai?

The current guideline value of Brithapet Salai is Rs 11,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2007 to Rs 11,500 per sq.ft in 2024, marking an overall increase of 283% over the years.

What is the land classification for Brithapet Salai?

Brithapet Salai falls under the Residential Class I Type - II land classification.

Where is the Sub Registrar Office for Brithapet Salai located?

The Sub Registrar Office for Brithapet Salai is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is stamp duty calculated for properties in Vepery?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. This ensures that the appropriate fees are collected during the registration process.