Guideline Value for Mir Bakshi Ali Street

Mir Bakshi Ali Street guideline value

The current guideline value of Mir Bakshi Ali Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village, under the Triplicane SRO, and is classified as Mixed Type - II land.

How the guideline value of Mir Bakshi Ali Street has changed

Starting from the 2007 revision, the guideline value was Rs 1,145 per sq.ft. It saw a significant increase to Rs 7,000 per sq.ft in 2012, marking a growth of 511%. However, the value dropped to Rs 4,690 per sq.ft in the 2017 revision, a decrease of 33%. The subsequent revision in 2023 raised the value to Rs 7,000 per sq.ft, followed by the current rate of Rs 7,700 per sq.ft in 2024, reflecting a 10% increase.

In summary, the guideline value has increased from Rs 1,145 per sq.ft in 2007 to Rs 7,700 per sq.ft in 2024, which is an overall increase of 572%. The register has no figures for the years 2002 and 2003 for this street.

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 is Rs 6,600 per sq.ft, placing Mir Bakshi Ali Street's 2024 figure above this median.

• Mirza Egan Ali Khan Street: Rs 6,600 per sq.ft (2024)
• Mirza Ghulam Ali Khan Street: Rs 6,600 per sq.ft (2024)
• Mirza Ghulam Hussain Street: Rs 6,600 per sq.ft (2024)
• Mirza Hyder Ali Khan Street: Rs 6,600 per sq.ft (2024)
• Miyan Saheb 1st Street: Rs 6,600 per sq.ft (2024)
• Miyan Saheb 2nd Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Mir Bakshi Ali Street

For a 1,000 sq.ft plot at the current rate of Rs 7,700 per sq.ft, the guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, totaling Rs 6,93,000. 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 Mir Bakshi Ali Street?

The Sub Registrar Office that covers Mir Bakshi Ali 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 is a critical factor when registering property transactions in Triplicane. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, the guideline value helps establish a fair price for the transaction, reflecting the market conditions and property characteristics. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Mir Bakshi Ali Street?

The current guideline value of Mir Bakshi Ali Street is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,145 per sq.ft in 2007 to Rs 7,700 per sq.ft in 2024, marking an overall increase of 572% across the revisions.

What is the median guideline value in Triplicane?

The median guideline value in Triplicane is Rs 6,600 per sq.ft, which is below the current value of Mir Bakshi Ali Street.

What are the stamp duty and registration fees for properties in this area?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher. For a property valued at Rs 77,00,000, the total stamp duty and registration fees would be Rs 6,93,000.

Which office do I need to visit for property registration in Triplicane?

The Triplicane Sub Registrar Office is responsible for property registrations in the area, located at No.182 Bharati Salai (pycrafts Road), Royapettah, Chennai-600014.