Guideline Value for Marisan 2nd Street

Marisan 2nd Street guideline value

The current guideline value of Marisan 2nd Street 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 Street has changed

The guideline value for Marisan 2nd Street has undergone several revisions over the years. The earliest recorded figure is from 2002, where the value was Rs 452 per sq.ft. This increased to Rs 515 per sq.ft in 2003, marking a 14% rise. By 2007, the value saw a significant jump to Rs 900 per sq.ft, which is a 75% increase from the previous year. The value further escalated to Rs 3,500 per sq.ft in 2012, reflecting a remarkable 289% increase. However, between 2012 and 2017, the value dropped to Rs 2,345 per sq.ft, which is a decrease of 33%. The value then rose to Rs 3,500 per sq.ft in 2023, a 49% increase from the previous revision. The most recent revision in 2024 set the guideline value at Rs 3,900 per sq.ft, representing an 11% increase from 2023.

There are no figures recorded for any revisions prior to 2002 or for any years not mentioned in the register for this street.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry 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 is equal to the 2024 figure for Marisan 2nd Street.

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

For a 1,000 sq.ft plot at the current rate of Rs 3,900 per sq.ft, the guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, totaling Rs 3,51,000. 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 details.

Which Sub Registrar Office covers Marisan 2nd Street?

The Sub Registrar Office that covers Marisan 2nd Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Adambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring compliance with the regulations set by the Registration Department.

Frequently asked questions

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

The current guideline value of Marisan 2nd Street 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 from Rs 452 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 763% over the years.

What is the land classification of Marisan 2nd Street?

Marisan 2nd Street is classified as Residential Class I Type - III, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Marisan 2nd Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 3,51,000, based on the guideline value of Rs 39,00,000.

Which office handles registrations for Marisan 2nd Street?

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