Guideline Value for BEGUM SAHIB 2ND STREET

Begum Sahib 2nd Street guideline value

The current guideline value of Begum Sahib 2nd Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class V Type - II.

How the guideline value of Begum Sahib 2nd Street has changed

Since the early 2000s, the guideline value of Begum Sahib 2nd Street has seen significant changes. In 2002, the guideline value was Rs 539 per sq.ft, which increased to Rs 599 per sq.ft in 2003, marking an 11% increase. The value then rose by 50% to Rs 900 per sq.ft in 2007. Following this, a substantial increase of 400% occurred, bringing the value to Rs 4,500 per sq.ft in 2012.

The most recent revision in 2024 set the guideline value at Rs 4,900 per sq.ft, reflecting a 9% increase from the 2012 figure. It is important to note that there are no figures available for the years 2017 and 2023 in the register for this street.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO, with guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, indicating that the 2024 figure for Begum Sahib 2nd Street is below this median.

• Begum Sahib 3rd Lane: Rs 4,900 per sq.ft (2024)
• Begum Sahib 2nd Lane: Rs 4,900 per sq.ft (2024)
• Begum Sahib 1st Street: Rs 4,900 per sq.ft (2024)
• Begum Sahib 3rd Street: Rs 4,900 per sq.ft (2024)
• Begum Sahib 4th Lane: Rs 4,900 per sq.ft (2024)
• Begum Sahib 1st Lane: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Begum Sahib 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total cost for these fees to Rs 4,41,000. It is essential 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 Begum Sahib 2nd Street?

The Begum Sahib 2nd Street is covered by the Mylapore Sub Registrar Office, located at No:5/9, Kavingar 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 Mylapore

The guideline value plays a crucial role in the registration process of property transactions in Mylapore. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, which are essential components of the overall transaction costs. This ensures transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Begum Sahib 2nd Street?

The current guideline value of Begum Sahib 2nd Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Begum Sahib 2nd Street has increased from Rs 539 per sq.ft in 2002 to Rs 4,900 per sq.ft in 2024, showing an overall increase of 809% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000 and the registration fee would be Rs 98,000, totaling Rs 4,41,000 in fees.

Which Sub Registrar Office is responsible for Begum Sahib 2nd Street?

The Mylapore Sub Registrar Office is responsible for Begum Sahib 2nd Street, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

What is the median guideline value for streets in Mylapore?

The median guideline value for streets in Mylapore is Rs 8,800 per sq.ft, which indicates that the guideline value for Begum Sahib 2nd Street is below this median.