Guideline Value for M.E.S.QUARTERS

M.E.S.Quarters guideline value

The current guideline value for M.E.S.Quarters in Paruthipattu village, under the Avadi SRO, is Rs 2,050 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - II land classification.

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

The guideline value for M.E.S.Quarters has seen several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 700 per sq.ft. This increased to Rs 1,250 per sq.ft in 2017, marking a significant rise of 79%. The value further increased to Rs 1,866 per sq.ft in 2023, which is a 49% increase from the previous revision. The most recent revision in 2024 set the guideline value at Rs 2,050 per sq.ft, reflecting a 10% increase from 2023. Notably, there are no recorded figures for the revisions in 2002, 2003, and 2007 for this street.

Overall, from 2012 to 2024, the guideline value has increased by 193%, indicating a substantial rise in property valuation over the years.

Guideline values in Paruthipattu

In Paruthipattu, there are 486 streets under the Avadi SRO, with guideline values ranging from Rs 801 to Rs 4,730 per sq.ft as of 2024. The median guideline value in the village is Rs 1,625 per sq.ft, placing M.E.S.Quarters above this median.

• MEENAKSHI THEATARE to AVADI BUS STAND: Rs 2,640 per sq.ft (2024)
• Mettu St Kannigapuram: Rs 950 per sq.ft (2024)
• M.G.R.Nagar Kalathumedu: Rs 801 per sq.ft (2024)
• M.G.R.Nagar Koladi St: Rs 950 per sq.ft (2024)
• M.G.R.Road: Rs 801 per sq.ft (2024)
• Maruthi Avenue Govarthanagiri: Rs 1,625 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,050 per sq.ft, the total guideline value would be Rs 20,50,000. The stamp duty at 7% would amount to Rs 1,43,500, and the registration fee at 2% would be Rs 41,000, resulting in a total of Rs 1,84,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

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

The M.E.S.Quarters area is covered by the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Paruthipattu. It is used to determine the stamp duty and registration fees that must be paid at the time of registration. Buyers should be aware that the guideline value is the minimum value considered for these calculations.

When a property is sold, the higher of the guideline value or the actual sale price is used to calculate the applicable duties and fees. This ensures that the registration reflects a value that is consistent with the prevailing market conditions as indicated by the guideline values.

Frequently asked questions

What is the current guideline value for M.E.S.Quarters?

The current guideline value for M.E.S.Quarters is Rs 2,050 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 700 per sq.ft in 2012 to Rs 2,050 per sq.ft in 2024, representing an overall increase of 193% over the years.

What are the stamp duty rates for property in M.E.S.Quarters?

The stamp duty for property in M.E.S.Quarters is charged at 7% of the guideline value or sale price, whichever is higher.

Which Sub Registrar Office covers the M.E.S.Quarters area?

The Avadi Sub Registrar Office covers the M.E.S.Quarters area, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is the guideline value determined for properties in Paruthipattu?

The guideline value for properties in Paruthipattu is determined by the Registration Department's guideline value register, which is periodically revised to reflect changes in property valuation in the area.