Guideline Value for Meeran Saheb Street

Meeran Saheb Street guideline value

The current guideline value of Meeran Saheb Street is Rs 14,300 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village, under the Triplicane SRO, and is classified as Commercial Special Type - IV.

How the guideline value of Meeran Saheb Street has changed

The guideline value for Meeran Saheb Street has undergone several revisions over the years. In 2007, the value was Rs 5,430 per sq.ft, which increased by 139% to Rs 13,000 per sq.ft in 2012. However, it decreased by 33% to Rs 8,710 per sq.ft in 2017. The value then saw a significant rise of 49%, reaching Rs 13,000 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 14,300 per sq.ft, reflecting an increase of 10% from the previous year.

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 163%.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value, ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median guideline value in this village is Rs 6,600 per sq.ft, placing Meeran Saheb Street's 2024 figure significantly above that median.

• Md. Abdulla Street: Rs 5,500 per sq.ft (2024)
• Md. Abdullah 1st Lane & Street: Rs 5,500 per sq.ft (2024)
• Md. Abdulla 2nd Street: Rs 5,500 per sq.ft (2024)
• Massudhi Street / Small Massudhi (Mosque Street & Lane): Rs 6,600 per sq.ft (2024)
• Maroof Saheb Street: Rs 5,500 per sq.ft (2024)
• Maroof Saheb Lane: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Meeran Saheb Street

For a 1,000 sq.ft plot at the current guideline value of Rs 14,300 per sq.ft, the total guideline value amounts to Rs 1,43,00,000. The stamp duty at 7% would be Rs 10,01,000, and the registration fee at 2% would be Rs 2,86,000, bringing the total to Rs 12,87,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Meeran Saheb Street?

The Sub Registrar Office that covers Meeran Saheb Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai-600014. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Triplicane. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately and fairly.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial obligations associated with the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Meeran Saheb Street?

The current guideline value of Meeran Saheb Street is Rs 14,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased significantly from Rs 5,430 per sq.ft in 2007 to Rs 14,300 per sq.ft in 2024, reflecting an overall increase of 163%.

What are the stamp duty rates for properties in Meeran Saheb Street?

The stamp duty for properties in Meeran Saheb Street is charged at 7% of the guideline value or the sale price, whichever is higher.

Which office handles the registration for Meeran Saheb Street?

The Triplicane Sub Registrar Office handles the registration for Meeran Saheb Street, located at No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai-600014.

What is the land classification of Meeran Saheb Street?

Meeran Saheb Street is classified as Commercial Special Type - IV, indicating its use for commercial purposes.