Guideline Value for Marisan 5th Street

Marisan 5th Street guideline value

The current guideline value of Marisan 5th 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 5th Street has changed

The guideline value for Marisan 5th Street has undergone several revisions over the years. In 2002, the guideline value was Rs 452 per sq.ft, which increased to Rs 515 per sq.ft in 2003. Following this, the value rose significantly to Rs 900 per sq.ft in 2007, and then to Rs 3,500 per sq.ft in 2012. However, it decreased to Rs 2,345 per sq.ft in 2017. The value then increased to Rs 3,500 per sq.ft in 2023, before reaching the current value of Rs 3,900 per sq.ft in 2024.

Specifically, the changes between the revisions are as follows: from 2002 to 2003, the increase was +14%; from 2003 to 2007, it rose by +75%; from 2007 to 2012, it saw a decrease of -33%; from 2012 to 2017, the value dropped by -33%; from 2017 to 2023, it increased by +49%; and finally, from 2023 to 2024, the guideline value increased by +11%. Overall, from 2002 to 2024, the guideline value has increased by +763%.

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 is Rs 3,900 per sq.ft, which is equal to the current guideline value of Marisan 5th Street.

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

Stamp duty and registration fee for property in Marisan 5th 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, making a total of Rs 3,51,000. Please 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 5th Street?

The Sub Registrar Office that covers Marisan 5th 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 an essential factor during the registration of property transactions in Adambakkam. It serves as a basis for calculating the stamp duty and registration fees, ensuring that the transaction is recorded at a fair value as determined by the local authorities.

When buying or selling property, the guideline value helps in assessing the legal value of the property, which is crucial for both buyers and sellers. It is important 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 Street?

The current guideline value of Marisan 5th 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, with various increases and decreases over the years.

What is the land classification of Marisan 5th Street?

Marisan 5th Street falls under the Residential Class I Type - III land classification.

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 the stamp duty calculated for properties in Marisan 5th Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 2,73,000 based on the current guideline value.