Guideline Value for Brown Stone Apartments

Brown Stone Apartments guideline value

The current guideline value of Brown Stone Apartments is Rs 11,500 per sq.ft, effective from 1 July 2024. This property is located in Nungambakkam village, under the Chennai Central Joint II SRO, and falls under the land classification of Commercial Special Type - V.

How the guideline value of Brown Stone Apartments has changed

The guideline value for Brown Stone Apartments has seen several revisions over the years. In 2007, the value was Rs 4,700 per sq.ft, which increased significantly to Rs 10,500 per sq.ft in 2012. However, it dropped to Rs 7,035 per sq.ft in 2017. Following that, the value rose sharply to Rs 10,500 per sq.ft in 2023, and now stands at Rs 11,500 per sq.ft in the 2024 revision.

From 2017 to 2023, there was a notable increase of 49%. The value saw a decrease of 33% from 2012 to 2017. The increase from 2007 to 2012 was substantial at 123%. Overall, from 2007 to 2024, the guideline value has increased by 145%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 22,000 per sq.ft, with a median value of Rs 8,800 per sq.ft. The guideline value for Brown Stone Apartments is above this median.

• Bootha Perumal Naiken Lane: Rs 8,800 per sq.ft (2024)
• Bootha Perumal Naicken St: Rs 8,800 per sq.ft (2024)
• Cathedral Garden Lane: Rs 10,400 per sq.ft (2024)
• Cathedral Garden Road: Rs 12,600 per sq.ft (2024)
• Binny Road: Rs 12,600 per sq.ft (2024)
• Chokalingam Street: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Brown Stone Apartments

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, charged at 7%, would be Rs 8,05,000, while the registration fee at 2% would be Rs 2,30,000, making the total cost Rs 10,35,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Brown Stone Apartments?

Brown Stone Apartments falls under the jurisdiction of the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Nungambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being sold or purchased.

When a buyer or seller approaches the Sub Registrar Office, the guideline value is assessed to ensure that the correct fees are calculated based on the value of the property, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Brown Stone Apartments?

The current guideline value of Brown Stone Apartments 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 4,700 per sq.ft in 2007 to Rs 11,500 per sq.ft in 2024, with various increases and decreases in between.

What are the other streets with guideline values in Nungambakkam?

Other streets in Nungambakkam include Bootha Perumal Naiken Lane and Bootha Perumal Naicken St at Rs 8,800 per sq.ft, Cathedral Garden Lane at Rs 10,400 per sq.ft, and others, with values ranging up to Rs 12,600 per sq.ft.

What is the stamp duty rate for properties in Brown Stone Apartments?

The stamp duty rate for properties in Brown Stone Apartments is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Brown Stone Apartments?

The Sub Registrar Office covering Brown Stone Apartments is located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.