Guideline Value for Begum Sahib 6th Street

Begum Sahib 6th Street guideline value

The current guideline value of Begum Sahib 6th 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 6th Street has changed

The guideline value for Begum Sahib 6th Street has seen significant changes over the years. In the 2007 revision, the value was Rs 2,500 per sq.ft. This increased dramatically to Rs 9,000 per sq.ft in 2012, marking a 260% rise. However, the value then dropped to Rs 6,030 per sq.ft in the 2017 revision, which represented a 33% decrease. The subsequent 2023 revision set the value at Rs 9,000 per sq.ft, a 49% increase from the previous figure. The latest revision in 2024 has further increased the guideline value to Rs 9,900 per sq.ft, which is a 10% rise from 2023.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 296%.

Guideline values in Nungambakkam

Nungambakkam village has a range of guideline values across its 270 streets under the Chennai Central Joint II SRO, with the 2024 figures 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 6th Street above that median at Rs 9,900 per sq.ft.

• Begum Sahib 7th Street: Rs 9,900 per sq.ft (2024)
• Begum Sahib 5th 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 4th 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 6th 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 is charged at 7%, totaling Rs 6,93,000, while the registration fee at 2% amounts to Rs 1,98,000. Therefore, the total cost for stamp duty and registration fee together is 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 information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Begum Sahib 6th Street?

The Sub Registrar Office that covers Begum Sahib 6th 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 assistance.

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

The guideline value is a crucial factor in property transactions in Nungambakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must be aware that the guideline value is used to calculate the stamp duty and registration fees, which are mandatory during the registration process.

When purchasing or selling property, it is essential to ensure that the sale price meets or exceeds the guideline value to avoid any legal issues during registration. This ensures that all parties involved are compliant with the regulations set by the local authorities.

Frequently asked questions

What is the current guideline value of Begum Sahib 6th Street?

The current guideline value of Begum Sahib 6th 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, increasing from Rs 2,500 per sq.ft in 2007 to Rs 9,900 per sq.ft in 2024, which is an overall increase of 296%.

What is the land classification of Begum Sahib 6th Street?

Begum Sahib 6th Street is classified as Commercial Class I Type - II according to the local land classification regulations.

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

The Sub Registrar Office for Begum Sahib 6th Street is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

How is the stamp duty calculated for property transactions?

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