Guideline Value for MKB NAGAR 17TH CENTRAL CROSS STREET

Mkb Nagar 17th Central Cross Street guideline value

The current guideline value of Mkb Nagar 17th 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 17th Central Cross Street has changed

The guideline value for Mkb Nagar 17th Central Cross Street has seen several revisions over the years. Starting from the 2003 revision, the value was Rs 600 per sq.ft, which increased to Rs 800 per sq.ft in the 2007 revision, marking a significant rise of 33%. The 2012 revision saw the value increase to Rs 4,000 per sq.ft, a substantial jump of 400%. However, in the 2017 revision, the value decreased to Rs 2,680 per sq.ft, reflecting a decline of 33%. The 2023 revision brought the value back up to Rs 4,000 per sq.ft, and the latest 2024 revision further increased it to Rs 4,300 per sq.ft, representing an 8% rise.

Overall, from 2003 to 2024, the guideline value has increased by 617%. It is important to note that the register has no figure for this street in the 2002 revision.

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 17th Central Cross Street's 2024 figure is above this median.

• Mkb Nagar 16th West Cross Street: Rs 4,300 per sq.ft (2024)
• Mkb Nagar 17th East Cross Street: Rs 4,300 per sq.ft (2024)
• Mkb Nagar 16th East Cross Street: Rs 4,300 per sq.ft (2024)
• Mkb Nagar 17th West Cross Street: Rs 3,800 per sq.ft (2024)
• Mkb Nagar 16th Central Cross Street: Rs 4,300 per sq.ft (2024)
• Mkb Nagar 18th Central Cross Street: Rs 4,300 per sq.ft (2024)

Stamp duty and registration fee for property in Mkb Nagar 17th 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 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 duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Mkb Nagar 17th Central Cross Street?

The Sub Registrar Office that covers Mkb Nagar 17th 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 more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Perambur. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is recorded at a value that reflects the prevailing market conditions.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of ownership. Buyers and sellers should be aware of these values to ensure compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Mkb Nagar 17th Central Cross Street?

The current guideline value of Mkb Nagar 17th 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 from Rs 600 per sq.ft in 2003 to Rs 4,300 per sq.ft in 2024, reflecting an overall increase of 617% over this period.

What is the land classification for Mkb Nagar 17th Central Cross Street?

The land classification for Mkb Nagar 17th Central Cross Street is Residential Class II Type - I.

Which Sub Registrar Office covers this street?

The Purasaivakkam Sub Registrar Office covers Mkb Nagar 17th Central Cross Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the stamp duty calculated for property transactions?

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