Guideline Value for MEPZ

Mepz guideline value

The current guideline value for Mepz in Kadaperi village, under the Tambaram Joint 1 SRO, is Rs 7,700 per sq.ft, effective from 1 July 2024. This area is classified as Commercial Class I Type - I.

How the guideline value of Mepz has changed

The guideline value for Mepz has seen several revisions over the years. The 2012 revision set the value at Rs 7,000 per sq.ft, which was then reduced to Rs 4,690 per sq.ft in 2017. Following this, the value increased significantly to Rs 7,000 per sq.ft in 2023, and most recently, it has risen to Rs 7,700 per sq.ft in 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

Between revisions, the guideline value changed as follows: from 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%, followed by a further increase of 10% from 2023 to 2024. Overall, the guideline value has increased by 10% from 2012 to 2024.

Guideline values in Kadaperi

In Kadaperi, there are 142 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 7,700 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Mepz's 2024 guideline value above this median.

• MES Cross Street: Rs 1,320 per sq.ft (2024)
• Moulana Nagar 10th Street: Rs 1,650 per sq.ft (2024)
• Moulana Nagar 1st Street: Rs 1,650 per sq.ft (2024)
• Moulana Nagar 2nd Street: Rs 1,650 per sq.ft (2024)
• Moulana Nagar 3rd Street: Rs 1,650 per sq.ft (2024)
• Moulana Nagar 4th Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Mepz

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, while the registration fee at 2% would be Rs 1,54,000, bringing the total to Rs 6,93,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mepz?

The Mepz area falls under the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes 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 Kadaperi

The guideline value plays a crucial role in the registration of property transactions in Kadaperi. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is registered, the guideline value is considered to ensure that the transaction is documented at a value that reflects the official rates. This helps maintain transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value for Mepz?

The current guideline value for Mepz in Kadaperi village is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 7,000 per sq.ft in 2012 to Rs 4,690 per sq.ft in 2017, then to Rs 7,000 per sq.ft in 2023, and finally to Rs 7,700 per sq.ft in 2024.

What are the other streets in Kadaperi?

Other streets in Kadaperi include MES Cross Street at Rs 1,320 per sq.ft, and several Moulana Nagar streets, all at Rs 1,650 per sq.ft.

What is the stamp duty rate in Mepz?

The stamp duty rate in Mepz is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Mepz?

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