Guideline Value for Marbidas Road

Marbidas Road guideline value

The current guideline value of Marbidas Road is Rs 5,500 per sq.ft, effective from 1 July 2024. This road is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class I Type - III.

How the guideline value of Marbidas Road has changed

Over the years, the guideline value of Marbidas Road has undergone significant changes. In the 2007 revision, the value was set at Rs 1,800 per sq.ft. This increased dramatically to Rs 5,000 per sq.ft in both the 2012 and 2023 revisions, showing no change during that period. However, from 2023 to 2024, the guideline value rose by 10% to the current rate of Rs 5,500 per sq.ft.

In summary, the overall increase from the 2007 revision to the 2024 revision is 206%. Notably, there are no figures available for the years 2002, 2003, and 2017 in the register for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Marbidas Road's 2024 figure above this median.

• Marbidas Street: Rs 3,850 per sq.ft (2024)
• Margo Street: Rs 3,850 per sq.ft (2024)
• Manthoppu 5th Street: Rs 3,850 per sq.ft (2024)
• Manthoppu 4th Street: Rs 3,850 per sq.ft (2024)
• Manthoppu 3rd Street: Rs 3,850 per sq.ft (2024)
• Manthoppu 2nd Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Marbidas Road

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, making the total cost for these fees Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details on calculating fees, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Marbidas Road?

The Sub Registrar Office that covers Marbidas Road is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Velachery

When buying or selling property in Velachery, the guideline value plays a crucial role in determining the applicable stamp duty and registration fees. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the transaction is recorded accurately.

This system helps maintain transparency in property transactions, providing a standardized method for assessing property values in the region. Buyers and sellers should be aware of the guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Marbidas Road?

The current guideline value of Marbidas Road is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,800 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, representing an overall increase of 206%.

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

Other streets in Velachery include Marbidas Street, Margo Street, and several Manthoppu streets, all valued at Rs 3,850 per sq.ft in 2024.

What fees are applicable when registering property on Marbidas Road?

The fees for registering property include a stamp duty of 7% and a registration fee of 2%, calculated based on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Marbidas Road?

The Velacheri Sub Registrar Office covers Marbidas Road and is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.