Guideline Value for Margo Lane (Margoss Lane)

Margo Lane (Margoss Lane) guideline value

The current guideline value of Margo Lane (Margoss Lane) is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Paruthivakkam village under the Alandur SRO, classified as Residential Class I Type - III.

How the guideline value of Margo Lane (Margoss Lane) has changed

The guideline value for Margo Lane (Margoss Lane) has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was a decrease of 33% from the previous value of Rs 1,675 per sq.ft in 2017. In 2023, the value increased to Rs 2,500 per sq.ft, and in 2024, it rose again to Rs 2,800 per sq.ft, marking a 12% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 12%. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Paruthivakkam

In Paruthivakkam village, there are 14 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 6,600 per sq.ft, with a median value of Rs 4,400 per sq.ft. Margo Lane (Margoss Lane) is below this median at Rs 2,800 per sq.ft.

• Margo Street (Margoss Street): Rs 2,800 per sq.ft (2024)
• Mettu Palayam (Eruppu Padhai): Rs 5,500 per sq.ft (2024)
• Mettu Street/Paris Apts.: Rs 3,900 per sq.ft (2024)
• Madhurai Naiken Street (Madurai Street): Rs 4,400 per sq.ft (2024)
• M.K.N. Road: Rs 6,600 per sq.ft (2024)
• Pachaiyamman Koil Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Margo Lane (Margoss Lane)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, totaling Rs 2,52,000. 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 detailed calculations.

Which Sub Registrar Office covers Margo Lane (Margoss Lane)?

The Sub Registrar Office that covers Margo Lane (Margoss Lane) is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Paruthivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Margo Lane (Margoss Lane)?

The current guideline value of Margo Lane (Margoss Lane) is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,800 per sq.ft in 2024.

What is the land classification for Margo Lane (Margoss Lane)?

Margo Lane (Margoss Lane) is classified as Residential Class I Type - III under the Alandur SRO.

What are the stamp duty and registration fees for properties in Margo Lane (Margoss Lane)?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 28,00,000, the total fees would amount to Rs 2,52,000.

Which office handles property registrations for Margo Lane (Margoss Lane)?

The Alandur Sub Registrar Office handles property registrations for Margo Lane (Margoss Lane), located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.