Guideline Value for Marthandam Road

Marthandam Road guideline value

The current guideline value of Marthandam Road is Rs 3,400 per sq.ft, effective from 1 July 2024. This road is located in Egmore village and falls under the Periamet SRO, with a land classification of Residential Class III Type - II.

How the guideline value of Marthandam Road has changed

The guideline value for Marthandam Road has seen significant changes over the years. In the 2002 revision, the value was Rs 469 per sq.ft, which increased to Rs 517 per sq.ft in 2003. The following revisions saw further increases, with the 2007 revision setting the value at Rs 1,000 per sq.ft. The 2012 revision maintained the value at Rs 3,100 per sq.ft, before dropping to Rs 2,077 per sq.ft in 2017. The most recent revisions show a rise to Rs 3,100 per sq.ft in 2023 and a further increase to Rs 3,400 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 625%. Notably, there are no figures available for revisions in years other than those mentioned above.

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, with a median value of Rs 7,100 per sq.ft. The guideline value of Marthandam Road is below this median.

• Marshall Road: Rs 18,100 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 Marthandam Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,400 per sq.ft, the total guideline value amounts to Rs 34,00,000. The stamp duty at 7% would be Rs 2,38,000, and the registration fee at 2% would be Rs 68,000, bringing the total to Rs 3,06,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Marthandam Road?

The Sub Registrar Office that covers Marthandam 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 crucial factor when registering a property in Egmore. It determines the amount of stamp duty and registration fees that must be paid during the transaction. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value serves as a benchmark for calculating the necessary fees. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Marthandam Road?

The current guideline value of Marthandam Road is Rs 3,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 469 in 2002 to Rs 3,400 in 2024, reflecting an overall increase of 625% over the years.

What is the stamp duty rate for properties on Marthandam Road?

The stamp duty rate for properties on Marthandam Road is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Marthandam Road located?

The Sub Registrar Office for Marthandam Road is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

What are the guideline values of other streets in Egmore?

Other streets in Egmore have varying guideline values, with rates ranging from Rs 2,800 to Rs 22,000 per sq.ft. For instance, Marshall Road has a guideline value of Rs 18,100 per sq.ft in 2024.