Guideline Value for M.E.S. Road

M.E.S. Road guideline value

The current guideline value of M.E.S. Road in Irumpuliyur village, under the Tambaram Joint 1 SRO, is Rs 3,850 per sq.ft, effective from 1 July 2024. This area is classified as Commercial Class I Type - II.

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

The guideline value for M.E.S. Road has undergone several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012. However, it then saw a decrease to Rs 2,345 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 3,500 per sq.ft, and the most recent revision in 2024 set it at Rs 3,850 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 542%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Irumpuliyur

In Irumpuliyur, there are 218 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 880 to Rs 6,600 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing the 2024 guideline value of M.E.S. Road above this median.

• M.E.S. Road 1st Street: Rs 2,530 per sq.ft (2024)
• MES First Cross Street: Rs 2,530 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)
• 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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, making the total cost for these fees Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

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

The M.E.S. Road 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 the registration process when buying or selling property in Irumpuliyur. It is used to determine the applicable stamp duty and registration fees, ensuring that these charges are based on a standardized value set by the government.

When a property is sold, the buyer and seller must consider the guideline value to ensure compliance with legal requirements. This value serves as a benchmark for both parties during the transaction, providing clarity on the financial obligations involved.

Frequently asked questions

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

The current guideline value of M.E.S. Road is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 542% over the years.

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

M.E.S. Road is classified as Commercial Class I Type - II, indicating its suitability for commercial activities.

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

The Sub Registrar Office for M.E.S. Road is located at No.26, M.E.S. Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 38,50,000 would incur a stamp duty of Rs 2,69,500 at 7%.