Guideline Value for BEGUM SAHIB 4TH STREET

Begum Sahib 4th Street guideline value

The current guideline value of Begum Sahib 4th 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 4th Street has changed

The guideline value for Begum Sahib 4th Street has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 539 per sq.ft. This increased to Rs 599 per sq.ft in 2003, marking an increase of 11%. The value saw a significant rise to Rs 900 per sq.ft in 2007, reflecting a 50% increase. The 2012 revision then set the value at Rs 4,500 per sq.ft, a remarkable increase of 400%. However, in the 2017 revision, the value dropped to Rs 3,015 per sq.ft, which was a decrease of 33%. The latest revision in 2024 reset the value to Rs 4,900 per sq.ft, marking a 63% increase from 2017.

It is important to note that there is no figure available for the year 2023 for this street. Overall, from 2002 to 2024, the guideline value has increased by 809%.

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 for Begum Sahib 4th Street is below this median.

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

Stamp duty and registration fee for property in Begum Sahib 4th 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, charged at 7%, would be Rs 3,43,000, while the registration fee at 2% would be Rs 98,000. Therefore, the total cost for stamp duty and registration fee would be Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Begum Sahib 4th Street?

The Sub Registrar Office that covers Begum Sahib 4th Street is 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 is an essential factor when registering property transactions in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that the government receives the correct revenue from property transactions. Buyers and sellers should be aware of the guideline value to understand the financial implications of their property dealings.

Frequently asked questions

What is the current guideline value of Begum Sahib 4th Street?

The current guideline value of Begum Sahib 4th 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 539 per sq.ft in 2002 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 809% over the years.

What are the other streets in Mylapore with the same guideline value?

Other streets in Mylapore with the same guideline value of Rs 4,900 per sq.ft include Begum Sahib 5th Lane, Begum Sahib 4th Lane, Begum Sahib 3rd Street, Begum Sahib 5th Street, Begum Sahib 3rd Lane, and Begum Sahib 2nd Street.

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 the stamp duty calculated for properties in Mylapore?

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