Guideline Value for MKB NAGAR 15TH CENTRAL CROSS STREET

Mkb Nagar 15th Central Cross Street guideline value

The current guideline value for Mkb Nagar 15th Central 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 15th Central Cross Street has changed

The guideline value for this street has undergone several revisions over the years. In 2003, the value was Rs 600 per sq.ft, which increased to Rs 800 per sq.ft in 2007. The value saw a significant jump to Rs 4,000 per sq.ft in 2012, but then dropped to Rs 2,680 per sq.ft in 2017. Following this, the value rose sharply to Rs 4,000 per sq.ft in 2023 and is now 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 49% increase in the guideline value. The most recent increase from 2023 to 2024 is 8%. Overall, from 2003 to 2024, the guideline value has increased by 617%.

Guideline values in Perambur

In Perambur village, there are 1,114 streets under the Purasaivakkam SRO with a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value is Rs 2,700 per sq.ft, placing Mkb Nagar 15th Central Cross Street above this median.

• Mkb Nagar 14th West Cross Street: Rs 4,300 per sq.ft (2024)
• Mkb Nagar 15th East Cross Street: Rs 4,300 per sq.ft (2024)
• Mkb Nagar 14th East Cross Street: Rs 4,300 per sq.ft (2024)
• Mkb Nagar 15th West Cross Street: Rs 4,300 per sq.ft (2024)
• Mkb Nagar 14th Central Cross Street: Rs 4,300 per sq.ft (2024)
• Mkb Nagar 16th Central Cross Street: Rs 4,300 per sq.ft (2024)

Stamp duty and registration fee for property in Mkb Nagar 15th Central 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 be Rs 3,01,000, and the registration fee at 2% would be Rs 86,000, totaling 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 15th Central Cross Street?

The Sub Registrar Office that covers Mkb Nagar 15th Central Cross Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process of property transactions in Perambur. It serves as a benchmark for determining the stamp duty and registration fees applicable when a property is bought or sold.

When you register a property, the guideline value is compared to the sale price, and the higher amount is used to calculate the stamp duty. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Mkb Nagar 15th Central Cross Street?

The current guideline value of Mkb Nagar 15th Central 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, with various revisions in between.

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

The stamp duty is 7% and the registration fee is 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, these fees would total Rs 3,87,000.

Which office handles property registrations for Mkb Nagar 15th Central Cross Street?

The Purasaivakkam Sub Registrar Office handles property registrations for Mkb Nagar 15th Central Cross Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification for Mkb Nagar 15th Central Cross Street?

The land classification for Mkb Nagar 15th Central Cross Street is Residential Class II Type - I.