Guideline Value for Begum Sahib 4th Street

Begum Sahib 4th Street guideline value

The current guideline value of Begum Sahib 4th 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 4th Street has changed

The guideline value for Begum Sahib 4th Street has undergone several revisions over the years. In 2007, the guideline value was Rs 2,500 per sq.ft, which increased significantly to Rs 9,000 per sq.ft in 2012. However, this figure decreased to Rs 6,030 per sq.ft in 2017. From 2017 to 2023, there was a substantial increase of 49%, bringing the value to Rs 9,000 per sq.ft. The most recent revision in 2024 saw a further increase of 10%, raising the guideline value to Rs 9,900 per sq.ft.

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 4th Street's 2024 value above this median.

• Begum Sahib 3rd 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 2nd Street: Rs 9,900 per sq.ft (2024)
• Begum Sahib 7th Street: Rs 9,900 per sq.ft (2024)
• Begum Sahib Lane: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in Begum Sahib 4th Street

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

Which Sub Registrar Office covers Begum Sahib 4th Street?

The Sub Registrar Office that covers Begum Sahib 4th 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 plays a crucial role in the registration process when buying or selling property in Nungambakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

When a property transaction occurs, the guideline value is compared to the sale price. The higher of the two values is used to determine the applicable stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Begum Sahib 4th Street?

The current guideline value of Begum Sahib 4th 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 seen several revisions, starting from Rs 2,500 per sq.ft in 2007 to Rs 9,900 per sq.ft in 2024, marking an overall increase of 296% since 2007.

What is the land classification for Begum Sahib 4th Street?

Begum Sahib 4th Street is classified as Commercial Class I Type - II, indicating its suitability for commercial activities.

Which Sub Registrar Office handles registrations for this street?

The Chennai Central Joint II Sub Registrar Office handles registrations for Begum Sahib 4th Street, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

How is stamp duty calculated for properties in Nungambakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 99,00,000, the stamp duty at 7% would be Rs 6,93,000.