Guideline Value for M.C.N.NAGAR EXTN. 6TH CROSS STREET

M.C.N.Nagar Extn. 6th Cross Street guideline value

The current guideline value of M.C.N.Nagar Extn. 6th Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Okkiyamthuraipakkam village, under the Neelankarai SRO, and is classified as Residential Class II Type - I.

How the guideline value of M.C.N.Nagar Extn. 6th Cross Street has changed

The guideline value for M.C.N.Nagar Extn. 6th Cross Street has seen several revisions over the years. Starting from the 2012 revision, the value was Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 3,000 per sq.ft. The latest revision in 2024 saw a further increase of 10%, setting the current guideline value at Rs 3,300 per sq.ft.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 3,300 per sq.ft, which is the same as the current guideline value for M.C.N.Nagar Extn. 6th Cross Street.

• M.C.N.Nagar Extn. 5th Cross Street: Rs 3,300 per sq.ft (2024)
• M.C.N.Nagar Extn. 7th Cross Street: Rs 3,300 per sq.ft (2024)
• M.C.N.Nagar Extn. 4th Cross Street: Rs 3,300 per sq.ft (2024)
• M.C.N.Nagar Extn. 8th Cross Street: Rs 3,300 per sq.ft (2024)
• M.C.N.Nagar Extn. 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• M.C.N.Nagar Extn. 9th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in M.C.N.Nagar Extn. 6th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the 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 M.C.N.Nagar Extn. 6th Cross Street?

The M.C.N.Nagar Extn. 6th Cross Street falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Okkiyamthuraipakkam. It is used to determine the stamp duty and registration fees applicable during the property transaction. Buyers and sellers must consider this value to ensure compliance with the local regulations.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration reflects a fair value based on the established guidelines.

Frequently asked questions

What is the current guideline value of M.C.N.Nagar Extn. 6th Cross Street?

The current guideline value of M.C.N.Nagar Extn. 6th Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for this street?

M.C.N.Nagar Extn. 6th Cross Street is classified as Residential Class II Type - I.

Which office handles registrations for this area?

The Neelankarai Sub Registrar Office handles registrations for M.C.N.Nagar Extn. 6th Cross Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty of Rs 2,31,000.