Guideline Value for Marshal Share

Marshal Share guideline value

The current guideline value of Marshal Share is Rs 300 per sq.ft, effective from 1 July 2024. This area is located in Nemili village, under the Sriperumpudur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Marshal Share has changed

Over the years, the guideline value of Marshal Share has experienced several revisions. The 2007 revision set the value at Rs 105 per sq.ft, which increased to Rs 300 per sq.ft in 2012. However, it dropped to Rs 201 per sq.ft in 2017. The 2023 revision maintained the value at Rs 300 per sq.ft, which will also be the case in the 2024 revision. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value saw a significant increase of 49%. The change from 2012 to 2017 was a decrease of 33%, while the jump from 2007 to 2012 was substantial at 186%. Overall, from 2007 to 2024, the guideline value has increased by 186%.

Guideline values in Nemili

In Nemili, there are 66 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 1,000 per sq.ft, with a median value of Rs 250 per sq.ft. The guideline value for Marshal Share is above this median.

• Marthamman Koil Street: Rs 210 per sq.ft (2024)
• Manasa Devi Nagar: Rs 250 per sq.ft (2024)
• Mettu Street: Rs 210 per sq.ft (2024)
• Mookambigai Nagar: Rs 250 per sq.ft (2024)
• Madha Koil Street: Rs 210 per sq.ft (2024)
• Lucky Land: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Marshal Share

For a 1,000 sq.ft plot at the current rate of Rs 300 per sq.ft, the guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000, totaling Rs 27,000. It is important to note that 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 details.

Which Sub Registrar Office covers Marshal Share?

The Sub Registrar Office that covers Marshal Share is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Nemili, as it determines the stamp duty and registration fees payable during the registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value serves as a benchmark for calculating the necessary fees. It is essential for both parties to understand that the duty is charged based on the higher of the guideline value or the sale price, ensuring transparency in the transaction.

Frequently asked questions

What is the current guideline value of Marshal Share?

The current guideline value of Marshal Share is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent revision in 2024 maintaining the value at Rs 300 per sq.ft. The value was Rs 201 per sq.ft in 2017 and Rs 105 per sq.ft in 2007.

What are the guideline values for other streets in Nemili?

Other streets in Nemili have varying guideline values, ranging from Rs 150 to Rs 1,000 per sq.ft. For example, Manasa Devi Nagar is valued at Rs 250 per sq.ft, while Marthamman Koil Street is valued at Rs 210 per sq.ft.

What fees are associated with buying property in Marshal Share?

When buying property in Marshal Share, buyers should be prepared to pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Marshal Share?

The Sub Registrar Office for Marshal Share is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find more details online.