Guideline Value for Marisan Street

Marisan Street guideline value

The current guideline value of Marisan Street in Alandur village, under the Alandur SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. The land classification for this street is Residential Class I Type - III.

How the guideline value of Marisan Street has changed

The guideline value of Marisan Street has undergone several revisions over the years. In 2002, the value was Rs 330 per sq.ft, which increased to Rs 515 per sq.ft in 2003, marking a 56% rise. The value then saw a significant increase to Rs 1,000 per sq.ft in 2007, reflecting a 94% change. Following this, the 2012 revision set the value at Rs 4,000 per sq.ft, which was a 300% increase from the previous figure. However, in 2017, the value decreased to Rs 2,680 per sq.ft, a drop of 33% from the 2012 revision. The next revision in 2023 saw the value rise to Rs 4,000 per sq.ft, a 49% increase. Finally, the most recent revision in 2024 has set the guideline value at Rs 4,400 per sq.ft, representing a 10% increase from the previous year.

There are no figures available for the revisions in years other than those stated above for Marisan Street.

Guideline values in Alandur

In Alandur, there are 40 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 3,900 to Rs 11,000 per sq.ft. The median value for these streets is Rs 5,000 per sq.ft, indicating that Marisan Street's 2024 figure is below this median.

• Market Lane: Rs 5,500 per sq.ft (2024)
• Mathavapuram Centre Street: Rs 5,000 per sq.ft (2024)
• Mathavapuram East Street/Madhavapuram perumal East street: Rs 5,000 per sq.ft (2024)
• Mathavapuram North Street: Rs 5,000 per sq.ft (2024)
• Mathavapuram South Street: Rs 5,000 per sq.ft (2024)
• Mathavapuram West Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Marisan Street

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Marisan Street?

The Sub Registrar Office that covers Marisan 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 Alandur

The guideline value is a critical factor when buying or selling property in Alandur, as it determines the minimum value at which a property can be registered. Buyers must be aware that the guideline value influences the stamp duty and registration fees applicable during the transaction process.

During registration, the higher of the guideline value and the sale price will be considered for calculating the stamp duty. This ensures that the transaction is recorded at a value that reflects the current market conditions as per the guideline value.

Frequently asked questions

What is the current guideline value of Marisan Street?

The current guideline value of Marisan Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting at Rs 330 per sq.ft in 2002 and reaching Rs 4,400 per sq.ft in 2024, an overall increase of 1233%.

What is the land classification for Marisan Street?

Marisan Street is classified as Residential Class I Type - III, which indicates its suitability for residential development.

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

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 3,96,000, based on the current guideline value of Rs 44,00,000.

Which office handles the registration for Marisan Street?

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