Guideline Value for BEGUM SAHIB 5TH LANE

Begum Sahib 5th Lane guideline value

The current guideline value of Begum Sahib 5th Lane is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the jurisdiction of the Mylapore SRO, and is classified as Residential Class V Type - II.

How the guideline value of Begum Sahib 5th Lane has changed

The guideline value for Begum Sahib 5th Lane has seen significant changes over the years. Starting from Rs 595 per sq.ft in 2002, it increased to Rs 661 per sq.ft in 2003, marking an 11% increase. The value then rose to Rs 900 per sq.ft in 2007, representing a 36% increase from the previous revision. The most notable jump occurred between 2007 and 2012, where the value surged to Rs 4,500 per sq.ft, reflecting a remarkable 400% increase. Finally, the guideline value reached Rs 4,900 per sq.ft in the 2024 revision, which is a 9% increase from the 2012 figure.

There are no figures available for the years 2017 and 2023 for Begum Sahib 5th Lane, indicating that the guideline value remained unchanged during those periods. Overall, from 2002 to 2024, the guideline value has increased by 724%.

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. The median value for these streets is Rs 8,800 per sq.ft, placing the 2024 figure for Begum Sahib 5th Lane below this median.

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

The Begum Sahib 5th 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 details.

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

When buying or selling property in Mylapore, the guideline value serves as a benchmark for determining the minimum value of the property. This value is crucial during the registration process, as it influences the stamp duty and registration fees that must be paid.

The guideline value is assessed periodically and can vary based on the location and classification of the property. Buyers and sellers should be aware of these values to ensure compliance with legal requirements during property transactions.

Frequently asked questions

What is the current guideline value of Begum Sahib 5th Lane?

The current guideline value of Begum Sahib 5th 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 increased from Rs 595 per sq.ft in 2002 to Rs 4,900 per sq.ft in 2024, marking an overall increase of 724% over this period.

What is the land classification for Begum Sahib 5th Lane?

Begum Sahib 5th Lane is classified as Residential Class V Type - II, indicating its designation for residential use.

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 Mylapore?

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