Guideline Value for Marisan 5th Lane

Marisan 5th Lane guideline value

The current guideline value of Marisan 5th Lane is Rs 3,900 per sq.ft, effective from 1 July 2024. This lane is located in Adambakkam village, under the Alandur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Marisan 5th Lane has changed

The guideline value for Marisan 5th Lane has undergone several revisions over the years. The earliest recorded figure is from 2002, where the value was Rs 428 per sq.ft. This increased to Rs 488 per sq.ft in 2003, marking a 14% rise. In 2007, the value saw a significant jump to Rs 900 per sq.ft, which is an increase of 84% from the previous year. The value then rose dramatically to Rs 3,500 per sq.ft in 2012, reflecting a 289% increase.

From 2012 to 2017, the guideline value decreased to Rs 2,345 per sq.ft, a drop of 33%. However, from 2017 to 2023, the value climbed to Rs 3,500 per sq.ft, which is a 49% increase. The most recent revision in 2024 set the value at Rs 3,900 per sq.ft, an 11% increase from the previous year.

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 5th Lane.

• Marisan 4th Street: Rs 3,900 per sq.ft (2024)
• Marisan 5th Street: Rs 3,900 per sq.ft (2024)
• Marisan 4th Lane: Rs 3,900 per sq.ft (2024)
• Marisan 3rd Street: Rs 3,900 per sq.ft (2024)
• Marisan Street 1st Street: Rs 3,900 per sq.ft (2024)
• Marisan 3rd Lane: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Marisan 5th Lane

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, bringing the total to Rs 3,51,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

For a detailed calculation, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Marisan 5th Lane?

The Sub Registrar Office that covers Marisan 5th 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 details.

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

The guideline value is a crucial factor during the registration of property transactions in Adambakkam. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives its due revenue from property transactions.

When buying or selling property, the guideline value helps in determining the fair value of the property for taxation purposes. It is important for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Marisan 5th Lane?

The current guideline value of Marisan 5th 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 from Rs 428 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 811% over the years.

What is the classification of Marisan 5th Lane?

Marisan 5th Lane is classified as Residential Class I Type - III under the Alandur SRO.

What are the stamp duty and registration fees for properties in Marisan 5th Lane?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 3,51,000.

Where is the Sub Registrar Office located for Marisan 5th Lane?

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