Guideline Value for M.E.S. COLONY

M.E.S. Colony guideline value

The current guideline value of M.E.S. Colony, located in Zaminpallavaram village under the Pallavaram SRO, is Rs 2,750 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of M.E.S. Colony has changed

The guideline value for M.E.S. Colony has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was followed by a decrease to Rs 1,675 per sq.ft in the 2017 revision. However, the value increased significantly to Rs 2,500 per sq.ft in 2023, and further increased to Rs 2,750 per sq.ft in the 2024 revision, marking a 10% rise from the previous year.

From 2012 to 2017, there was a notable decrease of 33%. However, from 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has seen a 10% increase. The register has no figures for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, making M.E.S. Colony's 2024 figure below that median.

• M.E.S. Lane Presently Veerapadran Street: Rs 2,750 per sq.ft (2024)
• Meenakshi Avenue: Rs 3,520 per sq.ft (2024)
• M.C. Raja Street: Rs 2,750 per sq.ft (2024)
• M.C.M. Nagar: Rs 2,750 per sq.ft (2024)
• Masthan Sheriff Nagar: Rs 3,520 per sq.ft (2024)
• M.G.R. Street: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in M.E.S. Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost to Rs 2,47,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers M.E.S. Colony?

The M.E.S. Colony is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the property registration process in Zaminpallavaram. It determines the minimum value at which a property can be registered, and it is used to calculate the stamp duty and registration fees applicable during the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of M.E.S. Colony?

The current guideline value of M.E.S. Colony is Rs 2,750 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification for M.E.S. Colony?

The land classification for M.E.S. Colony is Residential Class II Type - I.

Where is the Pallavaram Sub Registrar Office located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is the stamp duty calculated for properties in M.E.S. Colony?

The stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,92,500.