Guideline Value for MKB NAGAR 13TH WEST CROSS STREET

Mkb Nagar 13th West Cross Street guideline value

The current guideline value of Mkb Nagar 13th 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, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Mkb Nagar 13th West Cross Street has changed

The guideline value for Mkb Nagar 13th West Cross Street has seen several revisions over the years. Starting from the 2003 revision, the value was Rs 477 per sq.ft. This increased to Rs 800 per sq.ft in 2007, marking a significant rise of 68%. The value then jumped to Rs 4,000 per sq.ft in 2012, which was a 400% increase from the previous figure. However, in 2017, it decreased to Rs 2,680 per sq.ft, a decline of 33%. The value then rose to Rs 4,000 per sq.ft in 2023, and finally, it reached Rs 4,300 per sq.ft in the 2024 revision, reflecting an 8% increase from the previous year. The register has no figure for this street in 2002.

Overall, from the 2003 revision to the current 2024 revision, the guideline value has increased by 801%. The changes between the revisions illustrate fluctuations in the guideline value, with the most significant increase occurring from 2007 to 2012.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry 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 13th West Cross Street's 2024 value is above this median.

• Mkb Nagar 13th East Cross Street: Rs 4,300 per sq.ft (2024)
• Mkb Nagar 14th Central Cross Street: Rs 4,300 per sq.ft (2024)
• Mkb Nagar 13th Central Cross Street: Rs 4,300 per sq.ft (2024)
• Mkb Nagar 14th East Cross Street: Rs 4,300 per sq.ft (2024)
• Mkb Nagar 12th West Cross Street: Rs 4,300 per sq.ft (2024)
• Mkb Nagar 14th West Cross Street: Rs 4,300 per sq.ft (2024)

Stamp duty and registration fee for property in Mkb Nagar 13th 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, bringing the total to Rs 3,87,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Mkb Nagar 13th West Cross Street?

The Sub Registrar Office that covers Mkb Nagar 13th West Cross Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Perambur. It serves as a benchmark for determining the minimum value at which properties can be registered. When a property is bought or sold, the registration office uses this value to calculate applicable duties and fees.

It is essential for buyers and sellers to be aware of the current guideline value, as it can affect the total cost of the transaction. Understanding how the guideline value is set and revised can help individuals make informed decisions when engaging in property transactions.

Frequently asked questions

What is the current guideline value of Mkb Nagar 13th West Cross Street?

The current guideline value of Mkb Nagar 13th 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 significantly over the years, from Rs 477 per sq.ft in 2003 to Rs 4,300 per sq.ft in 2024, reflecting an overall increase of 801%.

What is the land classification for Mkb Nagar 13th West Cross Street?

Mkb Nagar 13th West Cross Street falls under the Residential Class II Type - I land classification.

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

For a property valued at Rs 43,00,000, the stamp duty would be Rs 3,01,000 and the registration fee would be Rs 86,000, totaling Rs 3,87,000.

Which office handles registrations for Mkb Nagar 13th West Cross Street?

The Purasaivakkam Sub Registrar Office handles registrations for Mkb Nagar 13th West Cross Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.