Guideline Value for Marisan 2nd Lane

Marisan 2nd Lane guideline value

The current guideline value of Marisan 2nd Lane is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village under the Alandur SRO, classified as Residential Class I Type - III.

How the guideline value of Marisan 2nd Lane has changed

The guideline value for Marisan 2nd Lane has undergone several revisions over the years. In 2002, the value was Rs 254 per sq.ft, which increased to Rs 290 per sq.ft in 2003. The value saw a significant rise to Rs 900 per sq.ft in 2007, followed by a substantial jump to Rs 3,500 per sq.ft in 2012. However, it decreased to Rs 2,345 per sq.ft in 2017 before increasing to Rs 3,500 per sq.ft in 2023. The latest revision in 2024 set the value at Rs 3,900 per sq.ft, marking an 11% increase from the previous year.

From 2017 to 2023, the value increased by 49%. The period from 2012 to 2017 saw a decrease of 33%, while the jump from 2007 to 2012 was a remarkable 289%. The value rose by 210% from 2003 to 2007 and by 14% from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by 1435%.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value is Rs 3,900 per sq.ft, which aligns with the guideline value of Marisan 2nd Lane.

• Marisan 1st Lane: Rs 3,900 per sq.ft (2024)
• Marisan 2nd Street: Rs 3,900 per sq.ft (2024)
• Marisan 3rd Lane: Rs 3,900 per sq.ft (2024)
• Marisan 3rd Street: Rs 3,900 per sq.ft (2024)
• Marisan 4th Lane: Rs 3,900 per sq.ft (2024)
• Marisan 4th Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Marisan 2nd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total charges to Rs 3,51,000. Please note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Marisan 2nd Lane?

The Sub Registrar Office that covers Marisan 2nd 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 Adambakkam

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

It is important for buyers and sellers to be aware of the guideline value as it affects the overall cost of the transaction. Accurate knowledge of the guideline value helps in making informed decisions during property dealings in Adambakkam.

Frequently asked questions

What is the current guideline value of Marisan 2nd Lane?

The current guideline value of Marisan 2nd Lane is Rs 3,900 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 254 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1435% over this period.

What are the other streets in Adambakkam with the same guideline value?

Other streets in Adambakkam with a guideline value of Rs 3,900 per sq.ft include Marisan 1st Lane, Marisan 2nd Street, Marisan 3rd Lane, Marisan 3rd Street, Marisan 4th Lane, and Marisan 4th Street.

What fees are associated with buying property in Marisan 2nd Lane?

When buying property in Marisan 2nd Lane, you will incur stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Marisan 2nd Lane?

The Sub Registrar Office for Marisan 2nd Lane is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.