Guideline Value for M.E.S. Lane Presently Veerapadran Street

M.E.S. Lane Presently Veerapadran Street guideline value

The current guideline value of M.E.S. Lane Presently Veerapadran Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village under the Pallavaram SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of M.E.S. Lane Presently Veerapadran Street has changed

The guideline value for M.E.S. Lane Presently Veerapadran Street has seen several revisions over the years. Starting from the 2003 revision, the value was Rs 395 per sq.ft, which increased to Rs 800 per sq.ft in 2007, marking a change of +103%. The 2012 revision maintained the value at Rs 2,500 per sq.ft, showing no change from the previous revision. In 2023, the value remained at Rs 2,500 per sq.ft, but it increased by +10% to Rs 2,750 per sq.ft in the 2024 revision.

It is important to note that there are no figures available for the revisions in 2002 and 2017 for this street. Overall, from 2003 to 2024, the guideline value has increased by +596%.

Guideline values in Zaminpallavaram

Zaminpallavaram has a total of 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value for the village is Rs 3,300 per sq.ft, placing M.E.S. Lane Presently Veerapadran Street's 2024 figure below that median.

• M.E.S. Colony: 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. Lane Presently Veerapadran Street

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 fees to Rs 2,47,500. It is important to note that 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 M.E.S. Lane Presently Veerapadran Street?

The Sub Registrar Office that covers M.E.S. Lane Presently Veerapadran Street is 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 details.

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

The guideline value is a crucial factor when registering property transactions in Zaminpallavaram. It determines the minimum price at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When buying or selling property, the guideline value ensures that the government receives appropriate revenue from the transaction. It is essential for buyers and sellers to be aware of the guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of M.E.S. Lane Presently Veerapadran Street?

The current guideline value of M.E.S. Lane Presently Veerapadran Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 395 per sq.ft in 2003 to Rs 2,750 per sq.ft in 2024, showing an overall increase of +596% over the years.

What are the other streets in Zaminpallavaram and their guideline values?

Other streets in Zaminpallavaram include M.E.S. Colony and M.C. Raja Street, both with a guideline value of Rs 2,750 per sq.ft, and Meenakshi Avenue, Masthan Sheriff Nagar, and M.G.R. Street, with guideline values of Rs 3,520 per sq.ft.

What is the registration fee for property in M.E.S. Lane Presently Veerapadran Street?

The registration fee for property in M.E.S. Lane Presently Veerapadran Street is calculated at 2% of the guideline value. For a property valued at Rs 27,50,000, the registration fee would be Rs 55,000.

Which office handles registrations for this street?

The Pallavaram Sub Registrar Office handles registrations for M.E.S. Lane Presently Veerapadran Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.