Guideline Value for Shenbagam Street, Brindavan Nagar

Shenbagam Street, Brindavan Nagar guideline value

The current guideline value of Shenbagam Street, Brindavan Nagar is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Koyakbedu village, under the AnnaNagar SRO, and is classified as Residential Class I Type - II.

How the guideline value of Shenbagam Street, Brindavan Nagar has changed

Over the years, the guideline value of Shenbagam Street has experienced significant changes. In the 2007 revision, the value was Rs 1,500 per sq.ft, which increased to Rs 4,000 per sq.ft in the 2012 revision. However, this figure saw a decrease of 33% to Rs 2,680 per sq.ft in the 2017 revision. The value then rose sharply to Rs 4,000 per sq.ft in the 2023 revision, and finally, it increased to Rs 4,400 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

The guideline value register has no figures for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 193%.

Guideline values in Koyakbedu

Koyakbedu village has a total of 270 streets under the AnnaNagar SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 16,500 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, making Shenbagam Street's 2024 figure equal to this median.

• Sivan Koil Street: Rs 3,800 per sq.ft (2024)
• Semathamman Nagar Sector III: Rs 4,900 per sq.ft (2024)
• Semathamman Nagar sector II: Rs 4,900 per sq.ft (2024)
• Semathamman Nagar Sector I: Rs 4,900 per sq.ft (2024)
• Semathamman Nagar: Rs 4,900 per sq.ft (2024)
• South Mada Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Shenbagam Street, Brindavan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, making the total cost for these fees Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator to estimate your costs.

Which Sub Registrar Office covers Shenbagam Street, Brindavan Nagar?

The Sub Registrar Office that covers Shenbagam Street, Brindavan Nagar is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Koyakbedu. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, it is essential to ensure that the guideline value is accurately reflected in the documentation. This ensures compliance with local regulations and helps in the smooth processing of the registration.

Frequently asked questions

What is the current guideline value of Shenbagam Street?

The current guideline value of Shenbagam Street, Brindavan Nagar 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 1,500 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 193% over the years.

What are the stamp duty and registration fees for a property in Shenbagam Street?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000, and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office covers Shenbagam Street?

The AnnaNagar Sub Registrar Office covers Shenbagam Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification of Shenbagam Street?

Shenbagam Street is classified as Residential Class I Type - II, indicating its suitability for residential development.