Guideline Value for Begum Sahib 2nd Street

Begum Sahib 2nd Street guideline value

The current guideline value of Begum Sahib 2nd Street is Rs 9,900 per sq.ft, effective from 1 July 2024. This street is located in Nungambakkam village under the Chennai Central Joint II SRO, and it falls under the Commercial Class I Type - II land classification.

How the guideline value of Begum Sahib 2nd Street has changed

The guideline value of Begum Sahib 2nd Street has undergone several revisions over the years. The earliest recorded figure is from 2007, set at Rs 2,500 per sq.ft. This value increased significantly to Rs 9,000 per sq.ft in 2012, marking a substantial rise of 260%. However, it then dropped to Rs 6,030 per sq.ft in 2017, a decrease of 33%. The latest revision in 2023 saw the value rise to Rs 9,000 per sq.ft, followed by another increase to Rs 9,900 per sq.ft in 2024, which is a 10% increase from the previous year.

For the years 2002 and 2003, the register has no figure for this street. Overall, from 2007 to 2024, the guideline value has increased by 296%, reflecting the changes over the years.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO, with guideline values ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, placing Begum Sahib 2nd Street's 2024 figure above this median.

• Begum Sahib 1st Street: Rs 9,900 per sq.ft (2024)
• Begum Sahib 3rd Street: Rs 9,900 per sq.ft (2024)
• Begum Sahib 4th Street: Rs 9,900 per sq.ft (2024)
• Begum Sahib 5th Street: Rs 9,900 per sq.ft (2024)
• Begum Sahib 6th Street: Rs 9,900 per sq.ft (2024)
• Begum Sahib 7th Street: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in Begum Sahib 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 9,900 per sq.ft, the total guideline value amounts to Rs 99,00,000. The stamp duty at 7% would be Rs 6,93,000, and the registration fee at 2% would be Rs 1,98,000, making the total cost for these fees Rs 8,91,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Begum Sahib 2nd Street?

Begum Sahib 2nd Street falls under the jurisdiction of the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar 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 Nungambakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Nungambakkam. It serves as the minimum value for which a property can be registered, ensuring that transactions reflect a fair value according to government standards.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are essential components of the transaction costs. Buyers and sellers must consider these values to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Begum Sahib 2nd Street?

The current guideline value of Begum Sahib 2nd Street is Rs 9,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has seen several revisions, with the most significant increase from Rs 2,500 per sq.ft in 2007 to Rs 9,900 per sq.ft in 2024, marking an overall increase of 296%.

What is the land classification for Begum Sahib 2nd Street?

Begum Sahib 2nd Street is classified under Commercial Class I Type - II, indicating its suitability for various commercial activities.

Where can I find the Sub Registrar Office for Begum Sahib 2nd Street?

The Sub Registrar Office covering Begum Sahib 2nd Street is located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

How is the stamp duty calculated for properties in Nungambakkam?

Stamp duty for properties in Nungambakkam is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.