Guideline Value for Mirza Ghulam Ali Khan Street

Mirza Ghulam Ali Khan Street guideline value

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

The guideline value for Mirza Ghulam Ali Khan Street has seen several revisions over the years. The earliest recorded figure is from 2007, which was Rs 945 per sq.ft. This value increased significantly to Rs 6,000 per sq.ft in 2012, marking a remarkable rise of 535%. However, between 2012 and 2017, the value decreased to Rs 4,020 per sq.ft, a decline of 33%. The value then rose again to Rs 6,000 per sq.ft in 2023, showing a substantial increase of 49% from the previous figure. The most recent revision in 2024 set the guideline value at Rs 6,600 per sq.ft, reflecting a 10% increase from 2023.

It is important to note that there are no recorded figures for the years 2002 and 2003 for this street in the register. Overall, from 2007 to 2024, the guideline value has increased by 598%.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that have a guideline value for 2024, ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median guideline value is Rs 6,600 per sq.ft, which is equal to the current figure for Mirza Ghulam Ali Khan Street.

• Mirza Egan 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)
• Mir Bakshi Ali Street: Rs 7,700 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 Ghulam Ali Khan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be 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, bringing the total cost for these fees to Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mirza Ghulam Ali Khan Street?

The Sub Registrar Office that covers Mirza Ghulam 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 more information.

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

The guideline value is a critical factor in the registration process of property transactions in Triplicane. It serves as a benchmark for calculating stamp duty and registration fees, which are mandatory during the sale or purchase of property. Buyers and sellers must be aware of the current guideline value to understand the financial implications of their transactions.

When registering a property, the guideline value helps ensure that the transaction is recorded at a fair value as determined by the government. This value is used to assess the amount of duty and fees payable, ensuring compliance with local regulations.

Frequently asked questions

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

The current guideline value of Mirza Ghulam 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 significantly from Rs 945 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, marking an overall increase of 598% over the years.

What are the stamp duty and registration fees for property in Mirza Ghulam Ali Khan Street?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 5,94,000.

Which Sub Registrar Office covers this street?

The Triplicane Sub Registrar Office covers Mirza Ghulam Ali Khan Street, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

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

Mirza Ghulam Ali Khan Street is classified as Residential Class I Type - I, indicating its suitability for residential development.