Guideline Value for MKB NAGAR 11TH WEST CROSS STREET

Mkb Nagar 11th West Cross Street guideline value

The current guideline value of Mkb Nagar 11th West Cross Street is Rs 4,300 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, classified as Residential Class II Type - I.

How the guideline value of Mkb Nagar 11th West Cross Street has changed

The guideline value has seen significant changes over the years. In 2003, the value was Rs 477 per sq.ft, which increased to Rs 800 per sq.ft in 2007. This marked a substantial increase of 68%. The value then rose dramatically to Rs 4,000 per sq.ft in 2012, reflecting a 400% increase. However, it decreased to Rs 2,680 per sq.ft in 2017, a decline of 33%. The subsequent revision in 2023 brought the value back up to Rs 4,000 per sq.ft, and the latest revision in 2024 has set it at Rs 4,300 per sq.ft, which is an 8% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 801%. It is important to note that the register has no figure for the year 2002 for this street.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that have a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. Mkb Nagar 11th West Cross Street's 2024 guideline value is above this median.

• Mkb Nagar 11th East Cross Street: Rs 4,300 per sq.ft (2024)
• Mkb Nagar 12th Central Cross Street: Rs 4,300 per sq.ft (2024)
• Mkb Nagar 11th Central Cross Street: Rs 4,300 per sq.ft (2024)
• Mkb Nagar 12th East Cross Street: Rs 4,300 per sq.ft (2024)
• Mkb Nagar 10th West Cross Street: Rs 4,300 per sq.ft (2024)
• Mkb Nagar 12th West Cross Street: Rs 4,300 per sq.ft (2024)

Stamp duty and registration fee for property in Mkb Nagar 11th West Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,300 per sq.ft, the total guideline value would be Rs 43,00,000. The stamp duty at 7% would amount to Rs 3,01,000, and the registration fee at 2% would be Rs 86,000, making the total cost for these fees Rs 3,87,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Mkb Nagar 11th West Cross Street?

The Sub Registrar Office that covers Mkb Nagar 11th West Cross Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perambur. It serves as a benchmark for determining the stamp duty and registration fees payable, ensuring that the transaction is recorded at a fair value as per government regulations.

When a property is sold, the guideline value is assessed to calculate the applicable fees. Buyers should be aware that the fees are charged based on the higher of the guideline value or the sale price, which can significantly impact the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Mkb Nagar 11th West Cross Street?

The current guideline value of Mkb Nagar 11th West Cross Street is Rs 4,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 477 per sq.ft in 2003 to Rs 4,300 per sq.ft in 2024, reflecting an overall increase of 801% over this period.

What is the land classification of Mkb Nagar 11th West Cross Street?

Mkb Nagar 11th West Cross Street is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for properties in this area?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 3,87,000, based on the guideline value of Rs 43,00,000.

Where is the Sub Registrar Office for this street located?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, and it covers Mkb Nagar 11th West Cross Street.