Guideline Value for M.C.N.NAGAR EXTN. 8TH CROSS STREET

M.C.N.Nagar Extn. 8th Cross Street guideline value

The current guideline value of M.C.N.Nagar Extn. 8th 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. 8th Cross Street has changed

The guideline value for M.C.N.Nagar Extn. 8th Cross Street has undergone several revisions over the years. The earliest available revision is from 2012, when the guideline value was Rs 3,000 per sq.ft. This figure was revised to Rs 2,010 per sq.ft in 2017, marking a decrease of 33%. However, the value saw a significant increase to Rs 3,000 per sq.ft in 2023, followed by a further increase to Rs 3,300 per sq.ft in 2024, which is a rise of 10% from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam village, there are 453 streets under the Neelankarai SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which is the same as the current guideline value for M.C.N.Nagar Extn. 8th Cross Street.

• M.C.N.NAGAR EXTN. 7th CROSS STREET: Rs 3,300 per sq.ft (2024)
• M.C.N.Nagar Extn. 9th Cross Street: Rs 3,300 per sq.ft (2024)
• M.C.N.Nagar Extn. 6th Cross Street: Rs 3,300 per sq.ft (2024)
• M.C.N.Nagar Extn. 5th 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. 3rd Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in M.C.N.Nagar Extn. 8th 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 amounts to Rs 33,00,000. The stamp duty, charged at 7%, would be Rs 2,31,000, and the registration fee, charged at 2%, would be Rs 66,000. Together, the total amount for stamp duty and registration fee would be Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers M.C.N.Nagar Extn. 8th Cross Street?

The M.C.N.Nagar Extn. 8th Cross Street falls under the jurisdiction of 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 assistance.

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

The guideline value plays a crucial role in property transactions within Okkiyamthuraipakkam. It is used to determine the stamp duty and registration fees applicable to the sale or purchase of property. When registering a property, the guideline value or the sale price is considered, whichever is higher, to calculate the applicable duties.

Understanding the guideline value is essential for buyers and sellers alike, as it directly impacts the costs involved in property transactions. It is advisable to consult the guideline value register to ensure accurate calculations and compliance with local regulations.

Frequently asked questions

What is the current guideline value of M.C.N.Nagar Extn. 8th Cross Street?

The current guideline value of M.C.N.Nagar Extn. 8th 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 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 M.C.N.Nagar Extn. 8th Cross Street?

M.C.N.Nagar Extn. 8th 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. 8th 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 and registration fee of Rs 2,97,000.