Guideline Value for MKB NAGAR 14TH WEST CROSS STREET

Mkb Nagar 14th West Cross Street guideline value

The current guideline value of Mkb Nagar 14th 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 14th West Cross Street has changed

The guideline value for Mkb Nagar 14th West Cross Street has seen several revisions over the years. Starting from Rs 477 per sq.ft in 2003, it increased to Rs 800 per sq.ft in 2007, then jumped to Rs 4,000 per sq.ft in 2012. However, it decreased to Rs 2,680 per sq.ft in 2017, before rising to Rs 4,000 per sq.ft in 2023, and finally reaching Rs 4,300 per sq.ft in 2024. The significant changes include a 400% increase from 2007 to 2012 and a 49% increase from 2017 to 2023.

There is no figure available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 801%, reflecting substantial changes over the years.

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 West Cross Street's 2024 guideline value is above this median.

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

Stamp duty and registration fee for property in Mkb Nagar 14th 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 amounts to Rs 43,00,000. The stamp duty is calculated at 7%, which totals Rs 3,01,000, and the registration fee at 2% totals Rs 86,000. The total amount for stamp duty and registration fee together is Rs 3,87,000. Please note that duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

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

The Mkb Nagar 14th West Cross Street is covered by 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 is a critical factor in the registration process when buying or selling property in Perambur. It determines the minimum value at which a property can be registered, ensuring that the transaction is officially recognized by the authorities.

When a property is sold, the guideline value serves as a benchmark for calculating stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can affect the total cost of the transaction.

Frequently asked questions

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

The current guideline value of Mkb Nagar 14th 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 from Rs 477 per sq.ft in 2003 to Rs 4,300 per sq.ft in 2024, with various revisions in between.

What is the median guideline value in Perambur?

The median guideline value in Perambur is Rs 2,700 per sq.ft, while Mkb Nagar 14th West Cross Street's value is above this median.

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

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

Which office handles registrations for Mkb Nagar 14th West Cross Street?

The Purasaivakkam Sub Registrar Office handles registrations for Mkb Nagar 14th West Cross Street, located at 93/1, Bricklin Road, Otteri, Chennai-600 012.