Guideline Value for Miyan Saheb 1st Street

Miyan Saheb 1st Street guideline value

The current guideline value of Miyan Saheb 1st Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village, under the Triplicane Sub Registrar Office (SRO), and is classified as Residential Class I Type - I.

How the guideline value of Miyan Saheb 1st Street has changed

The guideline value for Miyan Saheb 1st Street has seen several revisions over the years. In 2007, the guideline value was Rs 945 per sq.ft, which increased significantly to Rs 6,000 per sq.ft in 2012. However, it then decreased to Rs 4,020 per sq.ft in 2017. The value rose again to Rs 6,000 per sq.ft in 2023, and currently stands at Rs 6,600 per sq.ft as of the 2024 revision. The changes between these revisions include a 535% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024.

It is important to note that the register has no figures for Miyan Saheb 1st Street for the years 2002 and 2003. 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 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 guideline value for Miyan Saheb 1st Street.

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

Stamp duty and registration fee for property in Miyan Saheb 1st 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 amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total fees together 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Miyan Saheb 1st Street?

The Sub Registrar Office that covers Miyan Saheb 1st 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 a crucial factor when buying or selling property in Triplicane. It serves as a benchmark for determining the registration fees and stamp duty applicable during the property transaction process.

When registering a property, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Miyan Saheb 1st Street?

The current guideline value of Miyan Saheb 1st 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 increases and decreases across the years.

What is the land classification of Miyan Saheb 1st Street?

Miyan Saheb 1st Street is classified as Residential Class I Type - I.

Where can I find the Sub Registrar Office for Miyan Saheb 1st Street?

The Triplicane Sub Registrar Office covers Miyan Saheb 1st Street and is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is stamp duty calculated for property in Miyan Saheb 1st Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 66,00,000 would incur a stamp duty of Rs 4,62,000.