Guideline Value for Begum Sahib 3rd Street

Begum Sahib 3rd Street guideline value

The current guideline value of Begum Sahib 3rd Street is Rs 9,900 per sq.ft, effective from 1 July 2024. This street is located in Nungambakkam village and falls under the Chennai Central Joint II SRO. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Begum Sahib 3rd Street has changed

Over the years, the guideline value of Begum Sahib 3rd Street has seen significant changes. The 2007 revision recorded a guideline value of Rs 2,500 per sq.ft, which increased to Rs 9,000 per sq.ft in 2012, marking a 260% rise. However, from 2012 to 2017, the value decreased to Rs 6,030 per sq.ft, reflecting a decline of 33%. The subsequent revisions saw a substantial increase, with the value rising to Rs 9,000 per sq.ft in 2023, and then to Rs 9,900 per sq.ft in 2024, representing a 10% increase from the previous year and a 49% increase from 2017.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 296%.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Begum Sahib 3rd Street's 2024 value above this median.

• Begum Sahib 2nd Street: Rs 9,900 per sq.ft (2024)
• Begum Sahib 4th Street: Rs 9,900 per sq.ft (2024)
• Begum Sahib 1st 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 3rd 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, bringing the total to Rs 8,91,000. 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 3rd Street?

The Sub Registrar Office that covers Begum Sahib 3rd Street is 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 during the registration process when buying or selling property in Nungambakkam. It serves as a reference point for determining the stamp duty and registration fees that must be paid, ensuring that the transaction is compliant with local regulations.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two amounts is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Begum Sahib 3rd Street?

The current guideline value of Begum Sahib 3rd Street is Rs 9,900 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 2,500 per sq.ft in 2007 to Rs 9,900 per sq.ft in 2024, reflecting an overall increase of 296%.

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

Other streets in Nungambakkam that share the same guideline value of Rs 9,900 per sq.ft in 2024 include Begum Sahib 1st Street, 2nd Street, 4th Street, 5th Street, 6th Street, and 7th Street.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Begum Sahib 3rd Street is 7%, which is calculated on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Begum Sahib 3rd Street is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.