Guideline Value for Middle Street

Middle Street guideline value

The current guideline value of Middle Street in Irumpuliyur village is Rs 1,320 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - II.

How the guideline value of Middle Street has changed

The guideline value for Middle Street has seen several revisions over the years. Starting from Rs 600 per sq.ft in 2007, it increased to Rs 1,200 per sq.ft in 2012, which was a 100% rise. However, it then decreased to Rs 804 per sq.ft in 2017, marking a 33% drop. The value rose significantly to Rs 1,200 per sq.ft in 2023, and then further increased by 10% to the current Rs 1,320 per sq.ft in 2024.

There are no figures available for the revisions in 2002 and 2003 for Middle Street. Overall, from 2007 to 2024, the guideline value has increased by 120%.

Guideline values in Irumpuliyur

In Irumpuliyur, there are 218 streets under the Tambaram Joint 1 SRO that have a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which means that Middle Street's 2024 figure is below this median.

• Mothilal Street: Rs 2,530 per sq.ft (2024)
• MS.P. Lane: Rs 2,530 per sq.ft (2024)
• Mullai Avenue: Rs 2,200 per sq.ft (2024)
• M.E.S Road 3rd Cross 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 1st Street: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Middle Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total charges to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can calculate your own fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Middle Street?

The Sub Registrar Office that covers Middle Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, M.E.S 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 Irumpuliyur

The guideline value plays a crucial role during the registration of property transactions in Irumpuliyur. It serves as a reference point for calculating the stamp duty and registration fees, ensuring that these costs are based on the established value of the property.

When buying or selling property, the guideline value is used to determine the minimum price at which the property can be registered. This helps in maintaining transparency in property transactions and ensures that the government receives the appropriate revenue from these transactions.

Frequently asked questions

What is the current guideline value of Middle Street?

The current guideline value of Middle Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, showing an overall increase of 120% over the years.

What is the land classification for Middle Street?

Middle Street is classified as Residential Class I Type - II under the current guidelines.

What are the stamp duty and registration fees for property in Middle Street?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Where can I find the Sub Registrar Office for Middle Street?

The Sub Registrar Office for Middle Street is located at No.26, M.E.S Road, East Tambaram, Chennai-600059.