Expect a relatively tough paper as the academic reputation of IITM has always been quite rigorous than other IITs. Concentrate a little more on mathematics as they've got some of the best mathematicians as professors in IITM which may give slightly edgy questions. You may also want to focus a little on the subjective questions too as they require more efforts than to objective ones.
Physics and Chemistry would be of more-or-less same level. In fact, chemistry is the most scoring of all. With same efforts, chemistry gives the maximum output as compared to Physics & Math.
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