Guideline Value for Marisan 3rd Lane

Marisan 3rd Lane guideline value

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

How the guideline value of Marisan 3rd Lane has changed

The guideline value for Marisan 3rd 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. Following this, there was a significant rise to Rs 900 per sq.ft in 2007, and the value further jumped to Rs 3,500 per sq.ft in 2012. However, it decreased to Rs 2,345 per sq.ft in 2017 before rising again to Rs 3,500 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 3,900 per sq.ft.

Examining the changes between these revisions, we see that from 2017 to 2023, the value increased by 49%. There was a notable decrease of 33% from 2012 to 2017. The increase from 2007 to 2012 was 289%, while the value rose by 210% from 2003 to 2007. The change from 2002 to 2003 was 14%. Overall, from 2002 to 2024, the guideline value has increased by 1,435%.

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 guideline value for these streets is Rs 3,900 per sq.ft, which is equal to the current value of Marisan 3rd Lane.

• Marisan 2nd Street: Rs 3,900 per sq.ft (2024)
• Marisan 3rd Street: Rs 3,900 per sq.ft (2024)
• Marisan 2nd Lane: Rs 3,900 per sq.ft (2024)
• Marisan 4th Lane: Rs 3,900 per sq.ft (2024)
• Marisan 1st 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 3rd 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, together totaling Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Marisan 3rd Lane?

The Sub Registrar Office that covers Marisan 3rd 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 plays a crucial role in property transactions in Adambakkam. It serves as the benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware of this value to ensure compliance during the registration process.

When a property is sold, the guideline value is used to calculate applicable stamp duty and registration fees. This ensures that the transaction is legally recognized and that the appropriate taxes are paid based on the established guideline value.

Frequently asked questions

What is the current guideline value of Marisan 3rd Lane?

The current guideline value of Marisan 3rd 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 several times, starting from Rs 254 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, showing an overall increase of 1,435% over the years.

What is the land classification of Marisan 3rd Lane?

Marisan 3rd Lane is classified as Residential Class I Type - III.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties in Marisan 3rd Lane?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 at 7%.