Guideline Value for M.E.S. Road 1st Street

M.E.S. Road 1st Street guideline value

The current guideline value of M.E.S. Road 1st 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, and is classified as Residential Special Type - I.

How the guideline value of M.E.S. Road 1st Street has changed

Over the years, the guideline value of M.E.S. Road 1st Street has seen several revisions. The earliest recorded revision was in 2012, where the value was Rs 2,300 per sq.ft. This figure remained unchanged until the next revision in 2017, which saw a decrease of 33% to Rs 1,541 per sq.ft. Following this, the value increased significantly to Rs 2,300 per sq.ft in 2023, marking a 49% rise. The most recent revision in 2024 has set the guideline value at Rs 2,530 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no recorded figures for M.E.S. Road 1st Street in the revisions from 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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. The median value among these streets is Rs 2,200 per sq.ft, which means that M.E.S. Road 1st Street's current figure is above that median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value would be Rs 25,30,000. The stamp duty at 7% would amount to Rs 1,77,100, while the registration fee at 2% would be Rs 50,600. Together, these fees would total 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.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers M.E.S. Road 1st Street?

The Sub Registrar Office that covers M.E.S. Road 1st Street is 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 details.

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

The guideline value is a critical factor in property transactions in Irumpuliyur. It serves as a benchmark for determining the minimum value of a property for registration purposes. When buying or selling property, the guideline value is used to calculate stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

During the registration process, the buyer and seller must consider the guideline value to ensure compliance with local regulations. This value helps to maintain transparency and fairness in property transactions, as it reflects the official valuation set by the authorities.

Frequently asked questions

What is the current guideline value of M.E.S. Road 1st Street?

The current guideline value of M.E.S. Road 1st 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 2023 to Rs 2,530 per sq.ft in 2024, marking a 10% increase. It was Rs 1,541 per sq.ft in 2017 and Rs 2,300 per sq.ft in 2012.

What is the stamp duty for property in M.E.S. Road 1st Street?

The stamp duty for property in M.E.S. Road 1st Street is 7% of the guideline value. For a plot valued at Rs 25,30,000, the stamp duty would be Rs 1,77,100.

Where can I find the Sub Registrar Office for M.E.S. Road 1st Street?

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

What is the land classification for M.E.S. Road 1st Street?

M.E.S. Road 1st Street is classified as Residential Special Type - I, which indicates its designated use for residential purposes.