Guideline Value for Marisan 4th Street

Marisan 4th Street guideline value

The current guideline value of Marisan 4th 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 is classified as Residential Class I Type - III.

How the guideline value of Marisan 4th Street has changed

Over the years, the guideline value of Marisan 4th Street has seen significant changes. The earliest recorded figure in 2002 was Rs 469 per sq.ft, which increased to Rs 535 per sq.ft in 2003, marking a 14% rise. In 2007, the value jumped to Rs 900 per sq.ft, reflecting a substantial increase of 68%. The 2012 revision brought the value to Rs 3,500 per sq.ft, which was a remarkable 289% increase from the previous figure. However, in 2017, the value decreased to Rs 2,345 per sq.ft, showing a decline of 33%. The 2023 revision set the value at Rs 3,500 per sq.ft, and the most recent revision in 2024 has raised it to Rs 3,900 per sq.ft, representing an 11% increase.

There are no figures available for the revisions in years other than those listed. The overall change from 2002 to 2024 shows an increase of 732% in the guideline value for Marisan 4th 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 guideline value in this area is Rs 3,900 per sq.ft, which matches the current value of Marisan 4th Street.

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

Stamp duty and registration fee for property in Marisan 4th 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.

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

Which Sub Registrar Office covers Marisan 4th Street?

The Sub Registrar Office that covers Marisan 4th 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 details.

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

The guideline value is a crucial factor in property transactions in Adambakkam, as it determines the minimum price at which a property can be registered. When buying or selling property, the guideline value is used to calculate applicable stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall cost of property transactions. This ensures that all parties are informed and prepared for the financial obligations involved in the sale or purchase of real estate.

Frequently asked questions

What is the current guideline value of Marisan 4th Street?

The current guideline value of Marisan 4th 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 significantly, increasing from Rs 469 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, which is an overall increase of 732%.

What is the stamp duty rate for properties in Marisan 4th Street?

The stamp duty for properties in Marisan 4th Street is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Marisan 4th Street located?

The Sub Registrar Office for Marisan 4th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for Marisan 4th Street?

Marisan 4th Street is classified as Residential Class I Type - III, which indicates its designation for residential use.