Guideline Value for Begum Sahib Lane

Begum Sahib Lane guideline value

The current guideline value of Begum Sahib Lane 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 Lane has changed

Over the years, the guideline value of Begum Sahib Lane has seen significant changes. The earliest recorded figure in the register is from 2007, where the value was Rs 2,500 per sq.ft. This rose to Rs 9,000 per sq.ft in 2012, marking an increase of 260%. However, the value then dropped to Rs 6,030 per sq.ft in 2017, a decrease of 33%. From 2017 to 2023, the value surged to Rs 9,000 per sq.ft, reflecting a 49% increase. The most recent revision in 2024 set the guideline value at Rs 9,900 per sq.ft, which is a 10% increase from the previous year.

The register does not have 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 value for these streets is Rs 8,800 per sq.ft, placing Begum Sahib Lane above this median.

• Begum Sahib 7th Street: Rs 9,900 per sq.ft (2024)
• Begum Sahib Street: Rs 9,900 per sq.ft (2024)
• Begum Sahib 6th 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 Lane

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 fees 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 detailed calculations.

Which Sub Registrar Office covers Begum Sahib Lane?

Begum Sahib Lane is covered by 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 when buying or selling property in Nungambakkam. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the transaction is recorded accurately and transparently, reflecting the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Begum Sahib Lane?

The current guideline value of Begum Sahib Lane 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, showing an overall increase of 296% over the years.

What are the stamp duty and registration fees for property in Begum Sahib Lane?

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 Sub Registrar Office covers Begum Sahib Lane?

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

What is the land classification of Begum Sahib Lane?

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