Guideline Value for M.E.S Road 3rd Cross Street

M.E.S Road 3rd Cross Street guideline value

The current guideline value of M.E.S Road 3rd Cross Street is Rs 2,530 per sq.ft, effective from 1 July 2024. This street is located in Irumpuliyur village, under the Tambaram Joint 1 SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of M.E.S Road 3rd Cross Street has changed

In the 2012 revision, the guideline value was set at Rs 2,300 per sq.ft. This figure decreased to Rs 1,541 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value saw significant growth in the subsequent revisions, rising to Rs 2,300 per sq.ft in 2023, and then to Rs 2,530 per sq.ft in 2024, which is a 10% increase from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 10%.

The guideline value register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Irumpuliyur

In Irumpuliyur village, there are 218 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 6,600 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of M.E.S Road 3rd Cross Street is above this median.

• M.E.S. Road 2nd Street: Rs 2,530 per sq.ft (2024)
• M.E.S. Road 1st Street: Rs 2,530 per sq.ft (2024)
• M.E.S. Road: Rs 3,850 per sq.ft (2024)
• MES First Cross Street: Rs 2,530 per sq.ft (2024)
• Middle Street: Rs 1,320 per sq.ft (2024)
• Mothilal Street: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in M.E.S Road 3rd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value amounts to Rs 25,30,000. The stamp duty at 7% would be Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, bringing the total to Rs 2,27,700. 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 details.

Which Sub Registrar Office covers M.E.S Road 3rd Cross Street?

The M.E.S Road 3rd Cross Street is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, M.E.S Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Irumpuliyur. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must be aware of this value to ensure they comply with the legal requirements when transferring property ownership.

When a property is sold, the guideline value is often considered the minimum value for taxation purposes. This means that even if the sale price is lower than the guideline value, the stamp duty will be calculated based on the guideline value, ensuring that the government receives its due revenue from property transactions.

Frequently asked questions

What is the current guideline value of M.E.S Road 3rd Cross Street?

The current guideline value of M.E.S Road 3rd Cross Street is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2012 to Rs 1,541 per sq.ft in 2017, then to Rs 2,300 per sq.ft in 2023, and finally to Rs 2,530 per sq.ft in 2024. This reflects a significant increase in the more recent revisions.

What is the land classification for M.E.S Road 3rd Cross Street?

The land classification for M.E.S Road 3rd Cross Street is Residential Special Type - I, indicating its suitability for residential development.

What is the registration office for M.E.S Road 3rd Cross Street?

The registration office for M.E.S Road 3rd Cross Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, M.E.S Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties in Irumpuliyur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 25,30,000, the stamp duty at 7% would be Rs 1,77,100.