Guideline Value for Mirza Hyder Ali Khan Street

Mirza Hyder Ali Khan Street guideline value

The current guideline value of Mirza Hyder 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 Hyder Ali Khan Street has changed

The guideline value for Mirza Hyder Ali Khan Street has seen several revisions over the years. The earliest recorded value was Rs 945 per sq.ft in 2007, which increased significantly to Rs 6,000 per sq.ft in 2012. This was followed by a decrease to Rs 4,020 per sq.ft in 2017. However, from 2017 to 2023, the value rose sharply to Rs 6,000 per sq.ft, and in the latest revision for 2024, it stands at Rs 6,600 per sq.ft, marking a 10% increase from the previous year.

In summary, the guideline value has changed from Rs 945 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, which represents an overall increase of 598%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Triplicane

In Triplicane, there are a total of 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 the same as the current value for Mirza Hyder Ali Khan Street.

• Mirza Ghulam Hussain Street: Rs 6,600 per sq.ft (2024)
• Mirza Ghulam 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 Hyder 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 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, bringing the total 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.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Mirza Hyder Ali Khan Street?

The Sub Registrar Office that covers Mirza Hyder 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 crucial factor when it comes to the registration of property transactions in Triplicane. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property.

When a property is sold, the buyer and seller must ensure that the sale price is at least equal to the guideline value to avoid any legal issues. The stamp duty is calculated based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Mirza Hyder 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, with various revisions in between, including an increase from Rs 4,020 per sq.ft in 2017 to Rs 6,000 per sq.ft in 2023.

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

For a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000, and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Which office handles property registrations for this street?

The Triplicane Sub Registrar Office handles property registrations for Mirza Hyder Ali Khan Street, located at No.182 Bharati Salai (pycrafts Road), Royapettah, Chennai-600014.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that the sale price is at least equal to the guideline value to maintain legal compliance.