Guideline Value for MKB NAGAR 16TH WEST CROSS STREET

Mkb Nagar 16th West Cross Street guideline value

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

The guideline value for Mkb Nagar 16th West Cross Street has undergone several revisions since 2003. In 2003, the guideline value was Rs 498 per sq.ft, which increased to Rs 800 per sq.ft in 2007, marking a 61% rise. The value then saw a significant jump to Rs 4,000 per sq.ft in 2012, reflecting a 400% increase. However, it decreased to Rs 2,680 per sq.ft in 2017, a decline of 33%. The most recent revision in 2024 set the value at Rs 4,300 per sq.ft, representing a 60% increase from the 2017 figure.

It is important to note that the register has no figures for the years 2023 and 2002 for this street. Overall, from 2003 to 2024, the guideline value has increased by 763%.

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, with a median of Rs 2,700 per sq.ft. Mkb Nagar 16th West Cross Street's 2024 figure of Rs 4,300 per sq.ft is above this median.

• Mkb Nagar 16th East Cross Street: Rs 4,300 per sq.ft (2024)
• Mkb Nagar 17th Central Cross Street: Rs 4,300 per sq.ft (2024)
• Mkb Nagar 16th Central Cross Street: Rs 4,300 per sq.ft (2024)
• Mkb Nagar 17th 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 17th West Cross Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Mkb Nagar 16th West Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 4,300 per sq.ft, the guideline value amounts to 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, 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 West Cross Street?

The Sub Registrar Office that covers Mkb Nagar 16th West 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 is a crucial factor in the registration process of property transactions in Perambur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the official valuation set by the authorities.

When buying or selling property, the guideline value helps determine the minimum value at which a property can be registered. This ensures that the transaction is transparent and reflects the value assigned by the government, which is essential for both buyers and sellers.

Frequently asked questions

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

The current guideline value of Mkb Nagar 16th 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 498 per sq.ft in 2003 to Rs 4,300 per sq.ft in 2024, reflecting an overall increase of 763% over this period.

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

Mkb Nagar 16th West Cross Street is classified as Residential Class II Type - I under the current regulations.

Where can I find the Purasaivakkam Sub Registrar Office?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 43,00,000 would incur a stamp duty of Rs 3,01,000 at a rate of 7%.