Guideline Value for MKB NAGAR 14TH EAST CROSS STREET

Mkb Nagar 14th East Cross Street guideline value

The current guideline value of Mkb Nagar 14th East 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 is classified as Residential Class II Type - I.

How the guideline value of Mkb Nagar 14th East Cross Street has changed

The guideline value for Mkb Nagar 14th East Cross Street has seen several revisions over the years. In 2003, the value was Rs 600 per sq.ft, which increased to Rs 820 per sq.ft in 2007. Following this, the value surged to Rs 4,000 per sq.ft in 2012, then decreased to Rs 2,680 per sq.ft in 2017. The value then rose significantly to Rs 4,000 per sq.ft in 2023, and currently stands at Rs 4,300 per sq.ft in 2024. The register has no figure for this street in 2002.

From 2017 to 2023, there was a notable increase of 49%, while the change from 2012 to 2017 was a decrease of 33%. The jump from 2007 to 2012 was an impressive 388%, and from 2003 to 2007, the increase was 37%. Overall, from 2003 to 2024, the guideline value has risen by 617%.

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 14th East Cross Street's 2024 figure of Rs 4,300 per sq.ft is above this median.

• Mkb Nagar 14th Central Cross Street: Rs 4,300 per sq.ft (2024)
• Mkb Nagar 14th West Cross Street: Rs 4,300 per sq.ft (2024)
• Mkb Nagar 13th West Cross Street: Rs 4,300 per sq.ft (2024)
• Mkb Nagar 15th Central Cross Street: Rs 4,300 per sq.ft (2024)
• Mkb Nagar 13th East Cross Street: Rs 4,300 per sq.ft (2024)
• Mkb Nagar 15th East Cross Street: Rs 4,300 per sq.ft (2024)

Stamp duty and registration fee for property in Mkb Nagar 14th East 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. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mkb Nagar 14th East Cross Street?

The Sub Registrar Office that covers Mkb Nagar 14th East 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 during the registration of property transactions in Perambur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable duties and fees. Buyers should be aware that if the sale price exceeds the guideline value, the duty will be charged based on the higher amount, ensuring compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Mkb Nagar 14th East Cross Street?

The current guideline value of Mkb Nagar 14th East 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, from Rs 600 per sq.ft in 2003 to Rs 4,300 per sq.ft in 2024, marking an overall increase of 617%.

What is the land classification for Mkb Nagar 14th East Cross Street?

Mkb Nagar 14th East Cross Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Mkb Nagar 14th East Cross Street?

The Purasaivakkam Sub Registrar Office covers Mkb Nagar 14th East Cross Street and is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for properties in Mkb Nagar 14th East Cross Street?

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 at Rs 4,300 per sq.ft, the total guideline value would be Rs 43,00,000, leading to a stamp duty of Rs 3,01,000.