Guideline Value for MKB NAGAR 18TH EAST CROSS STREET

Mkb Nagar 18th East Cross Street guideline value

The current guideline value of Mkb Nagar 18th 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, classified as Residential Class II Type - I.

How the guideline value of Mkb Nagar 18th East Cross Street has changed

The guideline value for Mkb Nagar 18th East Cross Street has seen several revisions over the years. The 2003 revision set the value at Rs 600 per sq.ft, which increased to Rs 800 per sq.ft in 2007. A significant jump occurred in the 2012 revision, bringing the value to Rs 4,000 per sq.ft, but this was followed by a decrease to Rs 2,680 per sq.ft in 2017. The value then rose to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,300 per sq.ft in 2024, marking an 8% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 617%. The register has no figure for the year 2002 for this street, indicating that the first recorded value begins in 2003.

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 value of Rs 2,700 per sq.ft. Mkb Nagar 18th East Cross Street's 2024 figure of Rs 4,300 per sq.ft is above this median.

• Mkb Nagar 18th Central Cross Street: Rs 4,300 per sq.ft (2024)
• Mkb Nagar 18th West Cross Street: Rs 4,300 per sq.ft (2024)
• Mkb Nagar 17th West Cross Street: Rs 3,800 per sq.ft (2024)
• Mkb Nagar 19th Central Cross Street And Other Streets: Rs 4,300 per sq.ft (2024)
• Mkb Nagar 17th East Cross Street: Rs 4,300 per sq.ft (2024)
• Mkb Nagar 19th East Cross Street: Rs 4,300 per sq.ft (2024)

Stamp duty and registration fee for property in Mkb Nagar 18th 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 duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mkb Nagar 18th East Cross Street?

The Sub Registrar Office that covers Mkb Nagar 18th 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 details.

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

The guideline value is a crucial factor in the registration of property transactions in Perambur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are conducted fairly and transparently.

When buying or selling property, the guideline value influences the stamp duty and registration fees that need to be paid. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price of the property.

Frequently asked questions

What is the current guideline value of Mkb Nagar 18th East Cross Street?

The current guideline value of Mkb Nagar 18th 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, marking an overall increase of 617% over the years.

What is the stamp duty for property in Mkb Nagar 18th East Cross Street?

The stamp duty for property in Mkb Nagar 18th East Cross Street is 7% of the guideline value or the sale price, whichever is higher.

Which office handles property registrations in this area?

The Purasaivakkam Sub Registrar Office handles property registrations for Mkb Nagar 18th East Cross Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification for Mkb Nagar 18th East Cross Street?

Mkb Nagar 18th East Cross Street is classified as Residential Class II Type - I, indicating its suitability for residential development.