Guideline Value for Marshall Road

Marshall Road guideline value

The current guideline value of Marshall Road is Rs 18,100 per sq.ft, effective from 1 July 2024. This street is located in Egmore village, under the Periamet Sub Registrar Office (SRO), and is classified as Commercial Special Type - II.

How the guideline value of Marshall Road has changed

The guideline value for Marshall Road has seen several revisions over the years. The earliest recorded value was Rs 5,038 per sq.ft in 2002, which then decreased to Rs 4,709 per sq.ft in 2003. Following this, the value increased to Rs 6,000 per sq.ft in 2007, and then saw a significant rise to Rs 16,500 per sq.ft in 2012. However, it decreased again to Rs 11,055 per sq.ft in 2017, before increasing to Rs 16,500 per sq.ft in 2023. The most recent revision in 2024 has set the guideline value at Rs 18,100 per sq.ft.

In summary, from 2012 to 2017, the value decreased by 33%, while from 2017 to 2023, it increased by 49%. The jump from 2023 to 2024 reflects a 10% increase. Overall, the guideline value has increased by 259% from 2002 to 2024.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 7,100 per sq.ft, placing Marshall Road's 2024 figure above this median.

• Marthandam Road: Rs 3,400 per sq.ft (2024)
• Manohar Avenue: Rs 10,100 per sq.ft (2024)
• Manoharan Street: Rs 8,300 per sq.ft (2024)
• Manoharan Lane: Rs 7,100 per sq.ft (2024)
• Mayor Chittibabu Street: Rs 13,400 per sq.ft (2024)
• Mayor SathyaMurthy Road: Rs 8,300 per sq.ft (2024)

Stamp duty and registration fee for property in Marshall Road

For a 1,000 sq.ft plot at the current guideline value of Rs 18,100 per sq.ft, the total guideline value amounts to Rs 1,81,00,000. The stamp duty at 7% would be Rs 12,67,000, and the registration fee at 2% would be Rs 3,62,000, totaling Rs 16,29,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Marshall Road?

The Sub Registrar Office that covers Marshall Road is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Egmore. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared with the sale price. The higher of the two values is used to calculate the stamp duty, ensuring that the appropriate fees are collected based on the property's value.

Frequently asked questions

What is the current guideline value of Marshall Road?

The current guideline value of Marshall Road is Rs 18,100 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 5,038 per sq.ft in 2002 to Rs 18,100 per sq.ft in 2024, reflecting an overall increase of 259% over this period.

What is the land classification for Marshall Road?

Marshall Road is classified as Commercial Special Type - II, which influences its guideline value and potential uses.

What are the stamp duty rates applicable for properties in Marshall Road?

The stamp duty for properties in Marshall Road is charged at 7% of the guideline value or the sale price, whichever is higher. Registration fees are charged at 2% of the guideline value.

Where is the Sub Registrar Office for Marshall Road located?

The Sub Registrar Office covering Marshall Road is located at 1103, Poonamallee High Road, Chennai-600 003, under the Periamet registration zone.