Guideline Value for Marisan 3rd Street

Marisan 3rd Street guideline value

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

How the guideline value of Marisan 3rd Street has changed

The guideline value for Marisan 3rd Street has seen several revisions over the years. In 2002, the value was Rs 452 per sq.ft, which increased to Rs 515 per sq.ft in 2003, marking a 14% rise. The value then rose significantly to Rs 900 per sq.ft in 2007, reflecting a 75% increase. By 2012, the value was Rs 3,500 per sq.ft, showing an impressive 289% increase from the previous revision. However, it decreased to Rs 2,345 per sq.ft in 2017, representing a 33% decline. The value was then revised to Rs 3,500 per sq.ft in 2023, before reaching the current figure of Rs 3,900 per sq.ft in 2024, which is an 11% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 763%. The register has no figure for the years not listed in this overview.

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 the same as the guideline value for Marisan 3rd Street.

• Marisan 3rd Lane: Rs 3,900 per sq.ft (2024)
• Marisan 4th Lane: Rs 3,900 per sq.ft (2024)
• Marisan 2nd Street: Rs 3,900 per sq.ft (2024)
• Marisan 4th Street: Rs 3,900 per sq.ft (2024)
• Marisan 2nd Lane: Rs 3,900 per sq.ft (2024)
• Marisan 5th Lane: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Marisan 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total 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 higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Marisan 3rd Street?

The Sub Registrar Office that covers Marisan 3rd Street 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 during the registration process when buying or selling property in Adambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of Marisan 3rd 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 this period.

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

Other streets in Adambakkam with the same guideline value of Rs 3,900 per sq.ft include Marisan 3rd Lane, Marisan 4th Lane, Marisan 2nd Street, Marisan 4th Street, Marisan 2nd Lane, and Marisan 5th Lane.

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 Street?

Stamp duty for properties in Marisan 3rd Street is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 39,00,000 would incur a stamp duty of Rs 2,73,000 at 7%.