Guideline Value for BEGUM SAHIB 3RD STREET

Begum Sahib 3rd Street guideline value

The current guideline value of Begum Sahib 3rd 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 3rd Street has changed

Over the years, the guideline value for Begum Sahib 3rd Street has seen significant revisions. Starting from the 2002 revision, the value was Rs 959 per sq.ft, which increased to Rs 1,066 per sq.ft in 2003, marking an increase of 11%. However, by 2007, the value dropped to Rs 900 per sq.ft, reflecting a decrease of 16%. The 2012 revision saw a substantial rise to Rs 4,500 per sq.ft, indicating a remarkable increase of 400% from the previous figure. The most recent revision in 2024 set the value at Rs 4,900 per sq.ft, which is a 9% increase from the 2012 revision.

It is important to note that there are no figures available for the revisions in 2017 and 2023 for this street. Overall, from the 2002 revision to the current 2024 revision, the guideline value has increased by 411%.

Guideline values in Mylapore

In Mylapore, there are a total of 883 streets under the Mylapore SRO that carry a 2024 guideline value, with 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, placing the current value of Begum Sahib 3rd Street below that median.

• Begum Sahib 4th Lane: Rs 4,900 per sq.ft (2024)
• Begum Sahib 3rd Lane: Rs 4,900 per sq.ft (2024)
• Begum Sahib 2nd Street: Rs 4,900 per sq.ft (2024)
• Begum Sahib 4th Street: Rs 4,900 per sq.ft (2024)
• Begum Sahib 5th Lane: Rs 4,900 per sq.ft (2024)
• Begum Sahib 2nd Lane: Rs 4,900 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to 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 important to note that the stamp duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Begum Sahib 3rd Street?

The Begum Sahib 3rd Street falls under 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 details.

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 determines the minimum value on which stamp duty and registration fees are calculated, ensuring that these costs are based on an official assessment of property value.

When a property is sold, the guideline value is used to establish the legal value of the transaction, which helps in maintaining transparency and fairness in property dealings. Buyers and sellers must be aware of the current guideline value to accurately assess their financial obligations during the transaction.

Frequently asked questions

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

The current guideline value of Begum Sahib 3rd 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 has changed significantly from Rs 959 per sq.ft in 2002 to Rs 4,900 per sq.ft in 2024, marking an overall increase of 411%.

What is the land classification for Begum Sahib 3rd Street?

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

Where can I find the Mylapore Sub Registrar Office?

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

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 49,00,000 would incur a stamp duty of Rs 3,43,000 at 7%.