Guideline Value for BEGUM SAHIB 5TH STREET

Begum Sahib 5th Street guideline value

The current guideline value of Begum Sahib 5th Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village and falls under the Mylapore SRO. The land classification for this area is Residential Class V Type - II.

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

The guideline value for Begum Sahib 5th Street has seen several revisions over the years. In 2002, the value was Rs 539 per sq.ft, which increased to Rs 599 per sq.ft in 2003, marking an 11% rise. By 2007, the value surged to Rs 900 per sq.ft, reflecting a 50% increase from the previous revision. The 2012 revision brought a significant jump to Rs 4,500 per sq.ft, representing a 400% increase from 2007.

The most recent revision in 2024 set the guideline value at Rs 4,900 per sq.ft, which is a 9% increase from the 2012 figure. Overall, from 2002 to 2024, the guideline value has increased by 809%. It is important to note that there are no figures available for the years 2017 and 2023 for this street.

Guideline values in Mylapore

Mylapore village has a total of 883 streets under the Mylapore SRO, with guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value among these streets is Rs 8,800 per sq.ft, making the 2024 figure for Begum Sahib 5th Street below the median.

• Begum Sahib 5th Lane: Rs 4,900 per sq.ft (2024)
• Begum Sahib 4th Street: Rs 4,900 per sq.ft (2024)
• Begum Sahib 4th Lane: Rs 4,900 per sq.ft (2024)
• Begum Shahib Street: Rs 6,000 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)

Stamp duty and registration fee for property in Begum Sahib 5th Street

For a 1,000 sq.ft plot at the current rate of Rs 4,900 per sq.ft, the 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 to 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Begum Sahib 5th Street?

The Sub Registrar Office that covers Begum Sahib 5th 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 a critical factor in the registration process for property transactions in Mylapore. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both parties understand the legal and financial implications of the transaction. It is essential for buyers to be aware of this value to ensure compliance with local regulations and to avoid any potential disputes during the registration process.

Frequently asked questions

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

The current guideline value of Begum Sahib 5th 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 increased from Rs 539 per sq.ft in 2002 to Rs 4,900 per sq.ft in 2024, an overall increase of 809% over this period.

What are the registration fees for property in Begum Sahib 5th Street?

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.

Where is the Sub Registrar Office for Begum Sahib 5th Street located?

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

Are there any years without guideline values for this street?

Yes, there are no figures available for the years 2017 and 2023 for Begum Sahib 5th Street in the register.