Guideline Value for M.K.B Nagar

M.K.B Nagar guideline value

The current guideline value of M.K.B Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Perungalathur village under the Padappai SRO, classified as Residential Class IV Type - II.

How the guideline value of M.K.B Nagar has changed

The guideline value for M.K.B Nagar has seen several revisions over the years. The earliest available figure is from 2012, which was set at Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in 2017. The 2023 revision raised the value to Rs 1,500 per sq.ft, and the most recent revision in 2024 increased it further to Rs 1,650 per sq.ft.

Between the revisions, the changes are notable. From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The latest revision from 2023 to 2024 shows an increase of 10%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that have a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value is Rs 2,310 per sq.ft, making M.K.B Nagar's 2024 figure below this median.

• M.G.R. Street: Rs 2,310 per sq.ft (2024)
• M.G.R. Road: Rs 1,980 per sq.ft (2024)
• Mettu Theru: Rs 2,640 per sq.ft (2024)
• Moolai Theru: Rs 2,310 per sq.ft (2024)
• Moonstone Villas: Rs 2,640 per sq.ft (2024)
• Moovendhar Nagar Extn: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in M.K.B Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers M.K.B Nagar?

M.K.B Nagar falls under the Padappai Sub Registrar Office located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Perungalathur. It is used to determine the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded at a value that reflects the current market conditions as per the official register. This helps maintain transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of M.K.B Nagar?

The current guideline value of M.K.B Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification of M.K.B Nagar?

M.K.B Nagar is classified as Residential Class IV Type - II.

Where can I find the registration office for M.K.B Nagar?

The registration office for M.K.B Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for property in M.K.B Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 1,15,500 at the current guideline value.