Guideline Value for Mirza Ghulam Hussain Street

Mirza Ghulam Hussain Street guideline value

The current guideline value of Mirza Ghulam Hussain 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 Hussain Street has changed

Over the years, the guideline value of Mirza Ghulam Hussain Street has seen several revisions. 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 rise of 535%. However, in 2017, the value dropped to Rs 4,020 per sq.ft, a decrease of 33%. The guideline value then rose again to Rs 6,000 per sq.ft in 2023, followed by a further increase to Rs 6,600 per sq.ft in 2024, reflecting a 10% rise.

From 2017 to 2023, the value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 598%. The register does not contain 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, which is equal to the current figure for Mirza Ghulam Hussain Street.

• Mirza Ghulam Ali Khan Street: Rs 6,600 per sq.ft (2024)
• Mirza Hyder Ali Khan Street: Rs 6,600 per sq.ft (2024)
• Mirza Egan 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 Hussain Street

For a 1,000 sq.ft plot at the current rate of Rs 6,600 per sq.ft, 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. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Mirza Ghulam Hussain Street?

The Sub Registrar Office that covers Mirza Ghulam Hussain 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 details.

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

The guideline value is a crucial factor when registering property transactions in Triplicane. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value serves as a benchmark for pricing. It is essential for both buyers and sellers to be aware of the current guideline value to make informed decisions during the transaction process.

Frequently asked questions

What is the current guideline value of Mirza Ghulam Hussain Street?

The current guideline value of Mirza Ghulam Hussain 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 an overall increase of 598% over this period.

What are the other streets with the same guideline value in Triplicane?

Other streets in Triplicane with the same guideline value of Rs 6,600 per sq.ft include Mirza Ghulam Ali Khan Street, Mirza Hyder Ali Khan Street, Mirza Egan Ali Khan Street, and Miyan Saheb 1st and 2nd Streets.

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

The stamp duty is charged at 7% of the guideline value, while the registration fee is charged at 2%. For a property with a guideline value of Rs 66,00,000, the total fees would amount to Rs 5,94,000.

Where is the Sub Registrar Office located for this street?

The Sub Registrar Office covering Mirza Ghulam Hussain Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.