Guideline Value for Begum Sahib 7th Street

Begum Sahib 7th Street guideline value

The current guideline value for Begum Sahib 7th 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 7th Street has changed

Over the years, the guideline value for Begum Sahib 7th Street has seen significant changes. In the 2007 revision, the value was Rs 2,500 per sq.ft, which increased to Rs 9,000 per sq.ft in 2012, reflecting a rise of 260%. However, from 2012 to 2017, the value decreased to Rs 6,030 per sq.ft, marking a decline of 33%. The value then increased substantially to Rs 9,000 per sq.ft in 2023, a rise of 49% from the previous figure. The most recent revision in 2024 set the guideline value at Rs 9,900 per sq.ft, which is a 10% increase from 2023.

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 have a 2024 guideline value ranging from Rs 3,300 to Rs 22,000 per sq.ft, with a median value of Rs 8,800 per sq.ft. The guideline value for Begum Sahib 7th Street is above this median.

• Begum Sahib 6th 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 5th 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 7th 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, and the registration fee at 2% would be Rs 1,98,000, together totaling 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.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Begum Sahib 7th Street?

The Sub Registrar Office that covers Begum Sahib 7th 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 determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers should be aware that these fees are calculated based on the higher of the guideline value or the sale price.

Additionally, the guideline value helps in ensuring transparency and standardization in property transactions, making it easier for both parties to understand the financial implications of their dealings.

Frequently asked questions

What is the current guideline value of Begum Sahib 7th Street?

The current guideline value of Begum Sahib 7th 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 is the land classification for Begum Sahib 7th Street?

Begum Sahib 7th Street is classified as Commercial Class I Type - II, indicating its commercial usage.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 99,00,000, the stamp duty would be Rs 6,93,000 and the registration fee would be Rs 1,98,000, totaling Rs 8,91,000.

Which office handles registrations for Begum Sahib 7th Street?

The Chennai Central Joint II Sub Registrar Office handles registrations for Begum Sahib 7th Street, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.