Guideline Value for BEGUM SHAHIB STREET

Begum Shahib Street guideline value

The current guideline value of Begum Shahib Street is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village under the Mylapore SRO, classified as Residential Class V Type - I.

How the guideline value of Begum Shahib Street has changed

The guideline value for Begum Shahib Street has undergone several revisions over the years. The 2012 revision recorded a guideline value of Rs 5,500 per sq.ft, which was then reduced to Rs 3,685 per sq.ft in the 2017 revision, marking a decrease of 33%. In 2023, the value increased to Rs 5,500 per sq.ft, and the most recent revision in 2024 set the value at Rs 6,000 per sq.ft, reflecting a 9% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has seen a net increase of 9%.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, which means that the 2024 guideline value of Begum Shahib Street is below the median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value amounts to Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, while the registration fee at 2% would be Rs 1,20,000, bringing the total to Rs 5,40,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Begum Shahib Street?

The Sub Registrar Office covering Begum Shahib Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. For more information, you can find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is registered, the higher value between the guideline value and the sale price is used to calculate the applicable duties and fees. This ensures that the transaction is recorded accurately and complies with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Begum Shahib Street?

The current guideline value of Begum Shahib Street is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 5,500 per sq.ft in 2012 to Rs 3,685 per sq.ft in 2017, then back to Rs 5,500 per sq.ft in 2023, and finally to Rs 6,000 per sq.ft in 2024.

What is the land classification for Begum Shahib Street?

Begum Shahib Street is classified as Residential Class V Type - I.

How does the guideline value compare to other streets in Mylapore?

The guideline value of Rs 6,000 per sq.ft for Begum Shahib Street is below the median value of Rs 8,800 per sq.ft for the 883 streets in Mylapore under the Mylapore SRO.

Where can I find the Sub Registrar Office for Begum Shahib Street?

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