Guideline Value for MKB NAGAR 15TH EAST CROSS STREET

Mkb Nagar 15th East Cross Street guideline value

The current guideline value of Mkb Nagar 15th 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 it falls under the Residential Class II Type - I land classification.

How the guideline value of Mkb Nagar 15th East Cross Street has changed

The guideline value for Mkb Nagar 15th East Cross Street has seen several revisions over the years. Starting from the 2003 revision, the value was Rs 600 per sq.ft. This increased to Rs 800 per sq.ft in 2007, marking a significant rise of 33%. In the 2012 revision, the value was Rs 4,000 per sq.ft, which represented a remarkable increase of 400% from the previous revision. However, in 2017, the value dropped to Rs 2,680 per sq.ft, reflecting a decrease of 33%.

From 2017 to 2023, the guideline value rose sharply to Rs 4,000 per sq.ft, an increase of 49%. The most recent revision in 2024 set the value at Rs 4,300 per sq.ft, which is an 8% increase from the previous year. It is important to note that the register has no figure for this street in the 2002 revision.

Guideline values in Perambur

In Perambur village, 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. The median guideline value for these streets is Rs 2,700 per sq.ft, indicating that Mkb Nagar 15th East Cross Street's 2024 figure is above this median.

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

Stamp duty and registration fee for property in Mkb Nagar 15th 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. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mkb Nagar 15th East Cross Street?

The Sub Registrar Office that covers Mkb Nagar 15th 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 in property transactions in Perambur. It is used to determine the stamp duty and registration fees during the sale or purchase of property. Buyers and sellers must be aware that the guideline value is the minimum value on which these fees are calculated, ensuring compliance with local regulations.

When registering a property, the guideline value helps in establishing a fair benchmark for transactions. This ensures that the government collects the appropriate revenue through stamp duty and registration fees, which are essential for maintaining public infrastructure and services.

Frequently asked questions

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

The current guideline value of Mkb Nagar 15th 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, reflecting an overall increase of 617% over the years.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in Mkb Nagar 15th East Cross Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Mkb Nagar 15th East Cross Street?

The Sub Registrar Office for Mkb Nagar 15th East Cross Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What are the guideline values for other streets in Perambur?

Other streets in Perambur under the Purasaivakkam SRO have guideline values ranging from Rs 1,600 to Rs 7,100 per sq.ft. Mkb Nagar 15th East Cross Street's value of Rs 4,300 per sq.ft is above the median of Rs 2,700 per sq.ft for the area.