Guideline Value for Mirza Egan Ali Khan Street

Mirza Egan Ali Khan Street guideline value

The current guideline value of Mirza Egan Ali Khan Street is Rs 6,600 per sq.ft. This street is located in Triplicane village, under the Triplicane SRO, and is classified as Residential Class I Type - I.

How the guideline value of Mirza Egan Ali Khan Street has changed

The guideline value for Mirza Egan Ali Khan Street has undergone several revisions since 2007. In 2007, the value was Rs 945 per sq.ft, which increased significantly to Rs 6,000 per sq.ft in 2012. However, this figure dropped to Rs 4,020 per sq.ft in 2017. The value then rose to Rs 6,000 per sq.ft again in 2023, and currently stands at Rs 6,600 per sq.ft from the 2024 revision, effective from 1 July 2024.

Between these revisions, the changes were as follows: from 2007 to 2012, the value increased by 535%; from 2012 to 2017, it decreased by 33%; from 2017 to 2023, it rose by 49%; and finally, from 2023 to 2024, it increased by 10%. 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 carrying a 2024 guideline value ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median value is Rs 6,600 per sq.ft, which matches the current guideline value of Mirza Egan Ali Khan Street.

• Mirza Ghulam Ali Khan Street: Rs 6,600 per sq.ft (2024)
• Mir Bakshi Ali Street: Rs 7,700 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 Mirza Egan Ali Khan Street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, totaling Rs 5,94,000. 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 Mirza Egan Ali Khan Street?

The Sub Registrar Office that covers Mirza Egan Ali Khan Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai-600014. You can find your SRO for further assistance.

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

The guideline value is an essential factor in the registration process when buying or selling property. It determines the minimum value on which stamp duty and registration fees will be calculated, ensuring that these fees are based on the official valuation of the property.

When a property is sold, the buyer must pay the stamp duty and registration fees based on the higher of the guideline value or the sale price. This process helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Mirza Egan Ali Khan Street?

The current guideline value of Mirza Egan Ali Khan Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 945 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, reflecting various increases and decreases across the years.

What is the land classification for Mirza Egan Ali Khan Street?

Mirza Egan Ali Khan Street is classified as Residential Class I Type - I.

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

The Sub Registrar Office for Mirza Egan Ali Khan Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai-600014.

How is stamp duty calculated for properties in Triplicane?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for the registration fee.