Guideline Value for Marshall Nagar

Marshall Nagar guideline value

The current guideline value of Marshall Nagar, located in Kobarasanallur village under the Kunrathur SRO, is Rs 1,980 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Special Type - II.

How the guideline value of Marshall Nagar has changed

The guideline value for Marshall Nagar has undergone several revisions over the years. In 2007, the value was set at Rs 300 per sq.ft, which significantly increased to Rs 1,800 per sq.ft in 2012, marking a substantial rise of 500%. However, by 2017, the value decreased to Rs 1,206 per sq.ft, reflecting a decline of 33%. The next revision in 2023 saw the value rise to Rs 1,800 per sq.ft, and the most recent revision in 2024 set the value at Rs 1,980 per sq.ft, an increase of 10% from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 560%. The register has no figures for Marshall Nagar in the years 2002 and 2003.

Guideline values in Kobarasanallur

In Kobarasanallur, there are 28 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 4,180 per sq.ft. The median value for these streets is Rs 1,980 per sq.ft, which is equal to the current guideline value for Marshall Nagar. Below are the guideline values for other streets in Kobarasanallur:

• Mariamman Koil Street: Rs 1,980 per sq.ft (2024)
• Madha Koil Street: Rs 1,980 per sq.ft (2024)
• MAC Nagar: Rs 1,980 per sq.ft (2024)
• Moogambigai Nagar Phase I & II: Rs 1,980 per sq.ft (2024)
• KGT Nagar: Rs 1,980 per sq.ft (2024)
• Kesar Nagar: Rs 3,285 per sq.ft (2024)

Stamp duty and registration fee for property in Marshall Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, totaling Rs 1,78,200. Please 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 details.

Which Sub Registrar Office covers Marshall Nagar?

The Sub Registrar Office that covers Marshall Nagar 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 Kobarasanallur

The guideline value plays a crucial role in the registration process of property transactions in Kobarasanallur. It serves as a reference point for determining the stamp duty and registration fees that must be paid during the transfer of property ownership.

When buying or selling property, the guideline value is used to ensure that the transaction is registered at a fair value. This helps in maintaining transparency in property transactions and aids in the collection of government revenue through stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Marshall Nagar?

The current guideline value of Marshall Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 1,980 per sq.ft in 2024, showing an overall increase of 560% over the years.

What is the land classification for Marshall Nagar?

The land classification for Marshall Nagar is Mixed Special Type - II, which is important for understanding the zoning regulations in the area.

What are the stamp duty and registration fees for a property in Marshall Nagar?

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600, and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Where is the Sub Registrar Office for Marshall Nagar located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069, and it is responsible for property registrations in Marshall Nagar.