Guideline Value for M.C.N.NAGAR EXTN. 9TH CROSS STREET

M.C.N.Nagar Extn. 9th Cross Street guideline value

The current guideline value of M.C.N.Nagar Extn. 9th 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 it falls under Residential Class II Type - I land classification.

How the guideline value of M.C.N.Nagar Extn. 9th Cross Street has changed

The guideline value for M.C.N.Nagar Extn. 9th Cross Street has undergone several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 3,000 per sq.ft. This figure then decreased to Rs 2,010 per sq.ft in 2017, marking a decline of 33%. Following this, the value saw a significant increase of 49% to reach Rs 3,000 per sq.ft in 2023. The most recent revision in 2024 has set the guideline value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no recorded figures 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 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 equal to the current guideline value of M.C.N.Nagar Extn. 9th Cross Street.

• M.C.N.Nagar Extn. 8th 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. 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. 9th 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, making the total cost for these fees 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers M.C.N.Nagar Extn. 9th Cross Street?

The M.C.N.Nagar Extn. 9th Cross Street is covered by 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 details.

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

The guideline value is a crucial factor when registering property transactions in Okkiyamthuraipakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official value of the property. This value is used to calculate the stamp duty and registration fees, which are mandatory during the registration process.

Frequently asked questions

What is the current guideline value of M.C.N.Nagar Extn. 9th Cross Street?

The current guideline value of M.C.N.Nagar Extn. 9th 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 back 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. 9th Cross Street?

The land classification for M.C.N.Nagar Extn. 9th Cross Street is Residential Class II Type - I.

Which Sub Registrar Office is responsible for this area?

The Neelankarai Sub Registrar Office is responsible for M.C.N.Nagar Extn. 9th 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, for a property with a guideline value of Rs 33,00,000, the stamp duty would be calculated accordingly.