Guideline Value for Marshal Lay out

Marshal Lay out guideline value

The current guideline value for Marshal Lay out, located in Srinivasapuram village under the Kunrathur SRO, is Rs 1,550 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Marshal Lay out has changed

Over the years, the guideline value for Marshal Lay out has seen significant changes. In the 2007 revision, the guideline value was Rs 400 per sq.ft. This increased to Rs 1,400 per sq.ft in the 2012 revision, marking a substantial increase of 250%. However, in the subsequent 2017 revision, the value decreased to Rs 938 per sq.ft, reflecting a drop of 33%. The value then rose to Rs 1,400 per sq.ft in 2023, before reaching the current value of Rs 1,550 per sq.ft in the 2024 revision, which is an increase of 11%.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 288%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Srinivasapuram

In Srinivasapuram, there are 39 streets under the Kunrathur SRO that carry a guideline value for 2024, ranging from Rs 1,550 to Rs 7,400 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value for Marshal Lay out is below this median.

• Mariyamman Koil Street: Rs 1,550 per sq.ft (2024)
• M.G.R. Street: Rs 1,550 per sq.ft (2024)
• Kasi Avenue: Rs 2,000 per sq.ft (2024)
• Kamatchi amman Nagar: Rs 2,000 per sq.ft (2024)
• Perumal Koil Street: Rs 1,550 per sq.ft (2024)
• Ragavendira Nagar: Rs 2,000 per sq.ft (2024)

Stamp duty and registration fee for property in Marshal Lay out

For a 1,000 sq.ft plot at the current guideline value of Rs 1,550 per sq.ft, the total guideline value would be Rs 15,50,000. The stamp duty at 7% would amount to Rs 1,08,500, and the registration fee at 2% would be Rs 31,000, bringing the total to Rs 1,39,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Marshal Lay out?

The Sub Registrar Office that covers Marshal Lay out is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Srinivasapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects a fair value for both parties involved.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Marshal Lay out?

The current guideline value of Marshal Lay out is Rs 1,550 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 400 per sq.ft in 2007 to Rs 1,550 per sq.ft in 2024, marking an overall increase of 288% over the years.

What is the land classification for Marshal Lay out?

Marshal Lay out is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for a property in Marshal Lay out?

The stamp duty is 7% and the registration fee is 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,39,500.

Which office handles registrations for properties in Srinivasapuram?

The Kunrathur Sub Registrar Office handles registrations for properties in Srinivasapuram, located at No.59, Road Street, Kundrathur, Chennai -600 069.