Guideline Value for Mir Ashik Hussain Street

Mir Ashik Hussain Street guideline value

The current guideline value of Mir Ashik Hussain Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Egmore village under the Periamet SRO, and it falls under the Residential Class III Type - I land classification.

How the guideline value of Mir Ashik Hussain Street has changed

The guideline value for Mir Ashik Hussain Street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,600 per sq.ft, which was then reduced to Rs 2,412 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 3,600 per sq.ft, and the current 2024 revision has set it at Rs 3,900 per sq.ft. There are no figures available for the revisions in 2002, 2003, and 2007.

Between the revisions, there have been notable changes. From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, it increased significantly by 49%. The change from 2023 to 2024 is an increase of 8%. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO that carry a guideline value for 2024, ranging from Rs 2,800 to Rs 22,000 per sq.ft, with a median value of Rs 7,100 per sq.ft. The guideline value of Mir Ashik Hussain Street is below this median.

• Mir Madan Ali Street: Rs 7,100 per sq.ft (2024)
• Montieth Lane: Rs 13,400 per sq.ft (2024)
• Montieth Road: Rs 13,400 per sq.ft (2024)
• Motharappa Venkatasamy Street: Rs 7,100 per sq.ft (2024)
• Mothibaba Lane: Rs 13,400 per sq.ft (2024)
• Meeran Sahib Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Mir Ashik Hussain Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, while the registration fee at 2% would be Rs 78,000. Together, the total charges would be Rs 3,51,000. 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 more details.

Which Sub Registrar Office covers Mir Ashik Hussain Street?

The Sub Registrar Office that covers Mir Ashik Hussain Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Egmore. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the higher value between the guideline value and the actual sale price is used to calculate the applicable charges. This ensures that the registration process is aligned with the prevailing market conditions and regulatory requirements.

Frequently asked questions

What is the current guideline value of Mir Ashik Hussain Street?

The current guideline value of Mir Ashik Hussain Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,600 per sq.ft in 2023 to Rs 3,900 per sq.ft in 2024, showing an increase of 8%. It was Rs 2,412 per sq.ft in 2017, indicating a significant increase of 49% to the 2023 value.

What is the land classification for Mir Ashik Hussain Street?

Mir Ashik Hussain Street is classified under Residential Class III Type - I, which denotes its suitability for residential purposes.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Mir Ashik Hussain Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How do I calculate stamp duty and registration fees?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For assistance, you can use our stamp duty and registration fee calculator.