Guideline Value for MARBHI STREET

Marbhi Street guideline value

The current guideline value of Marbhi Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in the village of Sholinganallur - 1 under the Neelankarai SRO, and it falls under the Residential Class IV Type - I land classification.

How the guideline value of Marbhi Street has changed

In the 2017 revision, the guideline value was Rs 1,005 per sq.ft. This increased to Rs 1,500 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 has set the guideline value at Rs 1,700 per sq.ft, reflecting a further increase of 13% from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 69%. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO, with 2024 guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, indicating that Marbhi Street's 2024 figure is below that median.

• Mark Garden: Rs 1,700 per sq.ft (2024)
• Manicka Vasagar Street(Grama Nedunchalai 37th Cross Street): Rs 2,200 per sq.ft (2024)
• Manickam Street: Rs 1,700 per sq.ft (2024)
• Mayana Pathai: Rs 1,700 per sq.ft (2024)
• Me.Aa.Vaidyalingam Street: Rs 2,200 per sq.ft (2024)
• Medavakkam Road: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Marbhi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, while the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Marbhi Street?

The Sub Registrar Office that covers Marbhi Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a crucial factor in the registration process of property transactions in Sholinganallur - 1. It serves as the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps determine the applicable stamp duty and registration fees, which are based on the higher of the guideline value or the sale price. This ensures that all parties involved in the transaction are aware of the financial obligations associated with property registration.

Frequently asked questions

What is the current guideline value of Marbhi Street?

The current guideline value of Marbhi Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

From the 2017 revision of Rs 1,005 per sq.ft to the 2024 revision of Rs 1,700 per sq.ft, the guideline value has increased by 69%. The most recent revision shows a 13% increase from the previous year's figure of Rs 1,500 per sq.ft.

What is the land classification for Marbhi Street?

Marbhi Street falls under the Residential Class IV Type - I land classification as per the guidelines.

Which Sub Registrar Office covers Marbhi Street?

The Neelankarai Sub Registrar Office covers Marbhi Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in Marbhi Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft results in a total guideline value of Rs 17,00,000, leading to a stamp duty of Rs 1,19,000.