Guideline Value for M.E.S.SALAI 1ST STREET

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

The current guideline value of M.E.S.Salai 1st Street is Rs 802 per sq.ft, effective from 1 July 2024. This street is located in Mukthapudupattu village and falls under the Avadi SRO. The land classification for this area is Residential Class II Type - II.

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

The guideline value for M.E.S.Salai 1st Street has undergone several revisions over the years. In 2002, the guideline value was Rs 61 per sq.ft, which increased significantly to Rs 205 per sq.ft in 2007. The value then rose to Rs 600 per sq.ft in 2012, before decreasing to Rs 402 per sq.ft in 2017. The most recent revision in 2023 set the value at Rs 400 per sq.ft.

With the 2024 revision, the guideline value increased to Rs 802 per sq.ft, marking a substantial rise of 101% from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1215%. It is important to note that there is no figure available for M.E.S.Salai 1st Street in the 2003 revision.

Guideline values in Mukthapudupattu

Mukthapudupattu village has 37 streets under the Avadi SRO that carry a 2024 guideline value, ranging from Rs 800 to Rs 804 per sq.ft. The median value for these streets is Rs 802 per sq.ft, which is the same as the 2024 guideline value for M.E.S.Salai 1st Street.

• M.E.S.Salai: Rs 802 per sq.ft (2024)
• M.E.S.Salai 2nd Street: Rs 802 per sq.ft (2024)
• Masoothi St: Rs 802 per sq.ft (2024)
• Maruthi Nagar: Rs 804 per sq.ft (2024)
• Main Road: Rs 802 per sq.ft (2024)
• Nadu Street(Center St): Rs 804 per sq.ft (2024)

Stamp duty and registration fee for property in M.E.S.Salai 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 802 per sq.ft, the total guideline value would be Rs 8,02,000. The stamp duty at 7% would amount to Rs 56,140, and the registration fee at 2% would be Rs 16,040, resulting in a total of Rs 72,180. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers M.E.S.Salai 1st Street is 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 further assistance.

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

The guideline value is an important factor when registering property transactions in Mukthapudupattu. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property can be registered. This value is crucial for transparency and fairness in property transactions.

Frequently asked questions

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

The current guideline value of M.E.S.Salai 1st Street is Rs 802 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 61 per sq.ft in 2002 to Rs 802 per sq.ft in 2024, reflecting an overall increase of 1215% over the years.

What are the other streets in Mukthapudupattu with similar guideline values?

Other streets in Mukthapudupattu include M.E.S.Salai 2nd Street, Masoothi St, Main Road, and Maruthi Nagar, all with guideline values of Rs 802 per sq.ft, while Nadu Street (Center St) and Maruthi Nagar have values of Rs 804 per sq.ft.

How is stamp duty calculated for properties in M.E.S.Salai 1st Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 8,02,000 would incur a stamp duty of Rs 56,140.

Which office handles property registrations for M.E.S.Salai 1st Street?

The Avadi Sub Registrar Office handles property registrations for M.E.S.Salai 1st Street, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.