Guideline Value for BEGUM SAHIB 3RD LANE

Begum Sahib 3rd Lane guideline value

The current guideline value of Begum Sahib 3rd Lane is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore Sub Registrar Office (SRO). The land classification for this area is Residential Class V Type - II.

How the guideline value of Begum Sahib 3rd Lane has changed

The guideline value for Begum Sahib 3rd Lane has seen significant changes over the years. In 2002, the value was Rs 762 per sq.ft, which increased to Rs 847 per sq.ft in 2003, marking an increase of 11%. By 2007, the value rose sharply to Rs 1,000 per sq.ft, reflecting an 18% increase. The 2012 revision saw a substantial jump to Rs 4,500 per sq.ft, a remarkable increase of 350% from the previous figure.

As of the 2024 revision, the guideline value stands at Rs 4,900 per sq.ft, which is a 9% increase from the 2012 value. Overall, from 2002 to 2024, the guideline value has increased by 543%. It is important to note that the register has no figures for the years 2017 and 2023 for this street.

Guideline values in Mylapore

In Mylapore village, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft, with a median value of Rs 8,800 per sq.ft. The guideline value of Begum Sahib 3rd Lane is below this median.

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

Stamp duty and registration fee for property in Begum Sahib 3rd Lane

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 fees together to Rs 4,41,000. 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 for more precise calculations.

Which Sub Registrar Office covers Begum Sahib 3rd Lane?

The Begum Sahib 3rd Lane falls under the jurisdiction of 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 when buying or selling property in Mylapore. 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 stamp duty and registration fees are calculated based on this guideline value or the sale price, whichever is higher.

It is essential for property buyers to consider the guideline value when negotiating property prices, as it can influence the overall cost of buying a home. Understanding these values helps ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Begum Sahib 3rd Lane?

The current guideline value of Begum Sahib 3rd Lane is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 762 per sq.ft in 2002 to Rs 4,900 per sq.ft in 2024, representing an overall increase of 543%.

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

For a 1,000 sq.ft plot, the total stamp duty would be Rs 3,43,000, and the registration fee would be Rs 98,000, totaling Rs 4,41,000.

Where is the Mylapore Sub Registrar Office located?

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

What is the land classification of Begum Sahib 3rd Lane?

Begum Sahib 3rd Lane is classified as Residential Class V Type - II.