Guideline Value for Begum Sahib Street

Begum Sahib Street guideline value

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

How the guideline value of Begum Sahib Street has changed

Over the years, the guideline value of Begum Sahib Street has seen significant changes. The 2007 revision set the value at Rs 2,500 per sq.ft, which then rose to Rs 9,000 per sq.ft in 2012, marking an increase of 260%. However, from 2012 to 2017, the value decreased to Rs 6,030 per sq.ft, a decline of 33%. The subsequent revisions saw a rise to Rs 9,000 per sq.ft in 2023, and now it stands at Rs 9,900 per sq.ft in 2024, reflecting a 10% increase from the previous year. Overall, from 2007 to 2024, the guideline value has increased by 296%.

The register has no figures for the years 2002 and 2003 for this street. The 2024 revision at Rs 9,900 per sq.ft is a notable figure compared to the earlier revisions.

Guideline values in Nungambakkam

Nungambakkam village has a total of 270 streets under the Chennai Central Joint II SRO, with guideline values 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 Street's 2024 value above this median.

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

Which Sub Registrar Office covers Begum Sahib Street?

The Sub Registrar Office that covers Begum Sahib 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 plays a crucial role in the registration process when buying or selling property in Nungambakkam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring transparency in property transactions.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price.

Frequently asked questions

What is the current guideline value of Begum Sahib Street?

The current guideline value of Begum Sahib 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 increased from Rs 2,500 per sq.ft in 2007 to Rs 9,900 per sq.ft in 2024, marking an overall increase of 296% over the years.

What is the land classification of Begum Sahib Street?

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

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft property, the total fees can amount to Rs 8,91,000.

Where is the Sub Registrar Office for Begum Sahib Street located?

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