Guideline Value for Begum Sahib 5th Street

Begum Sahib 5th Street guideline value

The current guideline value of Begum Sahib 5th 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 is classified as Commercial Class I Type - II.

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

In the 2007 revision, the guideline value was Rs 2,500 per sq.ft. This figure increased significantly to Rs 9,000 per sq.ft in the 2012 revision, marking a 260% rise. However, in the 2017 revision, the value dropped to Rs 6,030 per sq.ft, reflecting a decrease of 33%. The guideline value then rose to Rs 9,000 per sq.ft in the 2023 revision, and subsequently increased by 10% to reach the current value of Rs 9,900 per sq.ft in the 2024 revision.

In summary, from 2017 to 2023, the value increased by 49%. Overall, from the 2007 revision to the current 2024 revision, there has been a substantial increase of 296%. The register does not have figures for the years 2002 and 2003 for this street.

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 is Rs 8,800 per sq.ft, placing Begum Sahib 5th Street's 2024 figure above that median.

• Begum Sahib 6th Street: Rs 9,900 per sq.ft (2024)
• Begum Sahib 4th 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)
• Begum Sahib Street: Rs 9,900 per sq.ft (2024)
• Begum Sahib 3rd Street: Rs 9,900 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 9,900 per sq.ft, the 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, resulting in a total of Rs 8,91,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Begum Sahib 5th Street?

The Sub Registrar Office that covers Begum Sahib 5th Street is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration of property transactions in Nungambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value will be considered during the registration process. Buyers should be aware that the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher, to ensure compliance with legal requirements.

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 9,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2007 to Rs 9,900 per sq.ft in 2024, reflecting an overall increase of 296% over the years.

What is the land classification of Begum Sahib 5th Street?

Begum Sahib 5th Street is classified as Commercial Class I Type - II under the Chennai Central Joint II SRO.

How is the stamp duty calculated for property in Begum Sahib 5th Street?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 99,00,000 would incur a stamp duty of Rs 6,93,000.

Where can I find the Sub Registrar Office for Begum Sahib 5th Street?

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