Guideline Value for Begum Street

Begum Street guideline value

The current guideline value of Begum Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Neelankarai village, under the Neelankarai SRO, and falls under the Residential Class III Type - I land classification.

How the guideline value of Begum Street has changed

The guideline value for Begum Street has undergone several revisions over the years. In 2002, the guideline value was Rs 97 per sq.ft, which increased to Rs 106 per sq.ft in 2003, marking a 9% rise. The value saw a significant jump to Rs 500 per sq.ft in 2007, reflecting a 372% increase. By 2012, it was revised to Rs 1,500 per sq.ft, which was a 200% increase from the previous figure. However, this was followed by a decrease to Rs 1,005 per sq.ft in 2017, a decline of 33%.

In 2023, the guideline value rose to Rs 1,500 per sq.ft, and then further increased to Rs 1,700 per sq.ft in 2024, representing a 13% change. Overall, from 2002 to 2024, the guideline value has increased by 1,653%.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Begum Street's 2024 figure below that median.

• Beach Walk One: Rs 9,500 per sq.ft (2024)
• Beach Walk: Rs 9,500 per sq.ft (2024)
• Beach Road: Rs 2,800 per sq.ft (2024)
• Bharathidasan Street (Vaidyalingam Street): Rs 1,700 per sq.ft (2024)
• Bharathi Nagar: Rs 1,700 per sq.ft (2024)
• Bharathi Nagar 1st Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Begum Street

For a 1,000 sq.ft plot at the current rate of Rs 1,700 per sq.ft, the guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Begum Street?

The Sub Registrar Office that covers Begum Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Neelankarai. It determines the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a reference point for both buyers and sellers. It helps in establishing a fair price for the property, as the registration fees are calculated based on the higher of the guideline value or the actual sale price.

Frequently asked questions

What is the current guideline value of Begum Street?

The current guideline value of Begum Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 97 per sq.ft in 2002 to Rs 1,700 per sq.ft in 2024, marking an overall increase of 1,653% over this period.

What is the land classification for Begum Street?

Begum Street falls under the Residential Class III Type - I land classification.

What are the stamp duty and registration fees for properties on Begum Street?

For a 1,000 sq.ft plot valued at Rs 1,700 per sq.ft, the total guideline value is Rs 17,00,000, with stamp duty at Rs 1,19,000 and registration fees at Rs 34,000, totaling Rs 1,53,000.

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

The Neelankarai Sub Registrar Office covers Begum Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.