Guideline Value for Miyan Saheb 2nd Street

Miyan Saheb 2nd Street guideline value

The current guideline value of Miyan Saheb 2nd 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 Miyan Saheb 2nd Street has changed

The guideline value for Miyan Saheb 2nd Street has seen several revisions over the years. The earliest recorded figure is from 2007, where it was Rs 945 per sq.ft. This value increased significantly to Rs 6,000 per sq.ft in 2012, marking a remarkable increase of 535%. However, it then decreased to Rs 4,020 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 6,000 per sq.ft in 2023, and finally reached Rs 6,600 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%, and overall, from 2007 to 2024, it has risen by 598%. This indicates a substantial change in the guideline value over the years, reflecting the evolving landscape of property values in the area.

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 value is Rs 6,600 per sq.ft, which is equal to the current guideline value of Miyan Saheb 2nd Street.

• Miyan Saheb 1st 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 2nd 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, charged at 7%, would amount to Rs 4,62,000, while the registration fee at 2% would be Rs 1,32,000. Together, these charges would total Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Miyan Saheb 2nd Street?

The Sub Registrar Office that covers Miyan Saheb 2nd 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 property transactions in Triplicane. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with property transactions. It is essential for both parties involved in the transaction to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Miyan Saheb 2nd Street?

The current guideline value of Miyan Saheb 2nd 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 a significant increase of 598% overall.

What are the stamp duty and registration fees for property in Miyan Saheb 2nd Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. 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 Miyan Saheb 2nd Street?

The Triplicane Sub Registrar Office covers Miyan Saheb 2nd Street, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

What is the land classification of Miyan Saheb 2nd Street?

Miyan Saheb 2nd Street is classified as Residential Class I Type - I, indicating its suitability for residential development.