Guideline Value for M.E.S. Road 2nd Street

M.E.S. Road 2nd Street guideline value

The current guideline value of M.E.S. Road 2nd Street in Irumpuliyur village is Rs 2,530 per sq.ft, effective from 1 July 2024. This property falls under the Tambaram Joint 1 SRO and is classified as Residential Special Type - I.

How the guideline value of M.E.S. Road 2nd Street has changed

The guideline value for M.E.S. Road 2nd Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,300 per sq.ft, which then decreased to Rs 1,541 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,300 per sq.ft in 2023, and then to Rs 2,530 per sq.ft in 2024, marking a 10% increase from the previous year.

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

Guideline values in Irumpuliyur

In Irumpuliyur, there are 218 streets under the Tambaram Joint 1 SRO that have 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. M.E.S. Road 2nd Street's 2024 guideline value is above this median.

• M.E.S. Road 1st Street: Rs 2,530 per sq.ft (2024)
• M.E.S Road 3rd Cross 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 2nd 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, and the registration fee at 2% would be Rs 50,600, leading to a total of 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, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers M.E.S. Road 2nd Street?

The M.E.S. Road 2nd Street falls under the Tambaram Joint 1 Sub Registrar Office located at No.26, M.E.S. Road, East Tambaram, Chennai-600059, within 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 crucial factor in the registration process when buying or selling property in Irumpuliyur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on an official valuation rather than the sale price alone.

When a property is registered, the guideline value helps determine the legal and financial obligations of the buyer. It is essential to be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of M.E.S. Road 2nd Street?

The current guideline value of M.E.S. Road 2nd 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 land classification for M.E.S. Road 2nd Street?

M.E.S. Road 2nd Street is classified as Residential Special Type - I.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 25,30,000, the stamp duty would be Rs 1,77,100, and the registration fee would be Rs 50,600, totaling Rs 2,27,700.

Which office handles the registration for M.E.S. Road 2nd Street?

The Tambaram Joint 1 Sub Registrar Office handles the registration for M.E.S. Road 2nd Street, located at No.26, M.E.S. Road, East Tambaram, Chennai-600059.