Guideline Value for MKB NAGAR 16TH EAST CROSS STREET

Mkb Nagar 16th East Cross Street guideline value

The current guideline value of Mkb Nagar 16th 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 16th East Cross Street has changed

The guideline value for Mkb Nagar 16th East Cross Street has seen 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. By 2012, the value rose to Rs 4,000 per sq.ft, but it then decreased to Rs 2,680 per sq.ft in 2017. The value saw a significant increase to Rs 4,000 per sq.ft in 2023, followed by the current rate of Rs 4,300 per sq.ft in 2024, marking an 8% increase from the previous year.

From 2017 to 2023, the guideline value rose by 49%. The increase from 2007 to 2012 was 400%, while the value increased by 33% from 2003 to 2007. Overall, from 2003 to 2024, the guideline value has increased by 617%. The register has no figure for the year 2002 for this street.

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 16th East Cross Street's 2024 figure is above this median.

• Mkb Nagar 16th Central Cross Street: Rs 4,300 per sq.ft (2024)
• Mkb Nagar 16th West Cross Street: Rs 4,300 per sq.ft (2024)
• Mkb Nagar 15th West Cross Street: Rs 4,300 per sq.ft (2024)
• Mkb Nagar 17th 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 17th East Cross Street: Rs 4,300 per sq.ft (2024)

Stamp duty and registration fee for property in Mkb Nagar 16th 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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mkb Nagar 16th East Cross Street?

The Mkb Nagar 16th East Cross Street falls under the jurisdiction of 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 during the registration of property transactions in Perambur. It is used to determine the stamp duty and registration fees that are applicable when a property is bought or sold.

When you register a property, the guideline value serves as a benchmark for the minimum value at which the property can be sold. This ensures that the government receives appropriate revenue from property transactions, reflecting the market conditions.

Frequently asked questions

What is the current guideline value of Mkb Nagar 16th East Cross Street?

The current guideline value of Mkb Nagar 16th 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 from Rs 600 per sq.ft in 2003 to Rs 4,300 per sq.ft in 2024, with various revisions in between. The most significant increase was from Rs 800 per sq.ft in 2007 to Rs 4,000 per sq.ft in 2012.

What is the land classification for Mkb Nagar 16th East Cross Street?

Mkb Nagar 16th East Cross Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, a 1,000 sq.ft plot would incur a total cost of Rs 3,87,000 in fees.

Which office handles registrations for Mkb Nagar 16th East Cross Street?

The Purasaivakkam Sub Registrar Office handles registrations for Mkb Nagar 16th East Cross Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.