Guideline Value for Marisan Street 1st Street

Marisan Street 1st Street guideline value

The current guideline value of Marisan Street 1st 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 Street 1st Street has changed

Over the years, the guideline value of Marisan Street 1st Street has seen several revisions. The earliest recorded figure is from 2002, where the guideline value was Rs 452 per sq.ft. This value increased to Rs 515 per sq.ft in 2003, marking a change of +14%. By 2007, the guideline value rose significantly to Rs 900 per sq.ft, reflecting a +75% increase. The value then jumped to Rs 3,500 per sq.ft in 2012, which was a substantial increase of +289% from the previous revision. However, it decreased to Rs 2,345 per sq.ft in 2017, showing a decline of -33%. The guideline value then increased to Rs 3,500 per sq.ft in 2023, a rise of +49%. The most recent revision in 2024 has set the value at Rs 3,900 per sq.ft, representing an increase of +11% from the previous year.

There are no figures available for the revisions in years other than those mentioned. The overall change from 2002 to 2024 shows an increase of +763% in the guideline value.

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 is the same as the current value for Marisan Street 1st Street.

• Marisan 5th Street: Rs 3,900 per sq.ft (2024)
• Marisan 5th Lane: Rs 3,900 per sq.ft (2024)
• Marison 6th street: Rs 3,900 per sq.ft (2024)
• Marisan 4th 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)

Stamp duty and registration fee for property in Marisan Street 1st Street

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, bringing the total fees to 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 detailed calculations.

Which Sub Registrar Office covers Marisan Street 1st Street?

The Sub Registrar Office that covers Marisan Street 1st 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 plays a crucial role in property transactions in Adambakkam. When you buy or sell a property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions.

It is essential to be aware of the guideline value as it can impact the overall cost of buying or selling a property. Buyers and sellers should ensure that the sale price is in line with the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Marisan Street 1st Street?

The current guideline value of Marisan Street 1st 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 from Rs 452 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, showing an overall increase of +763%.

What is the land classification of Marisan Street 1st Street?

Marisan Street 1st Street is classified as Residential Class I Type - III.

What are the stamp duty and registration fees for a property in Marisan Street 1st Street?

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000, and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which office handles registrations for properties in Adambakkam?

The Alandur Sub Registrar Office handles registrations for properties in Adambakkam, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.