Guideline Value for MES First Cross Street

MES First Cross Street guideline value

The current guideline value of MES First Cross Street in Irumpuliyur village is Rs 2,530 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Special Type - I.

How the guideline value of MES First Cross Street has changed

The guideline value for MES First Cross Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,300 per sq.ft, which was a decrease of 33% from the 2017 revision, where the value was Rs 1,541 per sq.ft. The next revision in 2023 raised the value to Rs 2,300 per sq.ft, and the most recent revision in 2024 increased it further to Rs 2,530 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register 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, making the current value of MES First Cross Street above the median.

• M.E.S. Road: Rs 3,850 per sq.ft (2024)
• M.E.S. Road 1st 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 MES First Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value would be Rs 25,30,000. The stamp duty at 7% would amount to Rs 1,77,100, while the registration fee at 2% would be Rs 50,600. Together, the total cost for stamp duty and registration would be Rs 2,27,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers MES First Cross Street?

The MES First Cross Street is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, MES Road, East Tambaram, Chennai-600059, 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 is an essential factor when registering property transactions in Irumpuliyur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid, ensuring that the transaction is recorded accurately in the official register.

When buying or selling property, it is crucial to be aware of the guideline value as it can affect the overall cost of the transaction. Buyers should ensure that they are informed about the current guideline value to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value of MES First Cross Street?

The current guideline value of MES First Cross Street is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2023 to Rs 2,530 per sq.ft in 2024, which is a 10% increase. It was Rs 1,541 per sq.ft in 2017 and Rs 2,300 per sq.ft in 2012.

What are the other streets in Irumpuliyur with their guideline values?

Other streets in Irumpuliyur include M.E.S. Road at Rs 3,850 per sq.ft, M.E.S. Road 1st Street at Rs 2,530 per sq.ft, and Mothilal Street at Rs 2,530 per sq.ft, among others.

What is the registration fee for property in MES First Cross Street?

The registration fee is calculated at 2% of the guideline value. For a plot valued at Rs 25,30,000, the registration fee would be Rs 50,600.

Which office handles the registration for MES First Cross Street?

The registration for MES First Cross Street is handled by the Tambaram Joint 1 Sub Registrar Office, located at No.26, MES Road, East Tambaram, Chennai-600059.