Guideline Value for M.E.S.SALAI 2ND STREET

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

The current guideline value of M.E.S.Salai 2nd Street in Mukthapudupattu village is Rs 802 per sq.ft, effective from 1 July 2024. This street falls under the Avadi SRO and is classified as Residential Class II Type - II.

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

Over the years, the guideline value for M.E.S.Salai 2nd Street has seen several revisions. In 2002, the guideline value was Rs 61 per sq.ft, which increased to Rs 205 per sq.ft in 2007. Following that, the value rose to Rs 600 per sq.ft in 2012, but then decreased to Rs 402 per sq.ft in 2017. The value remained unchanged at Rs 400 per sq.ft in 2023, before jumping to Rs 802 per sq.ft in the 2024 revision, marking an increase of 101% from the previous year. The register has no figure for the year 2003.

From 2002 to 2024, the overall increase in the guideline value is Rs 802 per sq.ft, which represents a significant rise of 1215%. Notably, the largest increase occurred between 2002 and 2007, with a growth of 236%, while the most recent jump from 2023 to 2024 reflects a 101% increase.

Guideline values in Mukthapudupattu

In Mukthapudupattu, there are 37 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 804 per sq.ft, with the median value being Rs 802 per sq.ft. M.E.S.Salai 2nd Street's 2024 figure aligns with this median.

• M.E.S.Salai 1st Street: Rs 802 per sq.ft (2024)
• M.E.S.Salai: 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 2nd 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, while the registration fee at 2% would be Rs 16,040. Together, these fees would total Rs 72,180. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

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

The M.E.S.Salai 2nd Street falls under 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 details.

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

The guideline value is a critical factor in property transactions in Mukthapudupattu, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential for the legal transfer of property ownership.

During the registration process, the buyer must ensure that the property is registered at or above the guideline value to comply with legal requirements. This value serves as a benchmark to ensure transparency and fairness in property transactions.

Frequently asked questions

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

The current guideline value of M.E.S.Salai 2nd 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.

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

The Avadi Sub Registrar Office covers M.E.S.Salai 2nd Street, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

What are the stamp duty and registration fees for M.E.S.Salai 2nd Street?

For a plot of 1,000 sq.ft at the current guideline value, the total stamp duty would be Rs 56,140 and the registration fee would be Rs 16,040, totaling Rs 72,180.

What is the land classification of M.E.S.Salai 2nd Street?

M.E.S.Salai 2nd Street is classified as Residential Class II Type - II, which is important for understanding its use and potential development.