Guideline Value for MKB NAGAR 18TH WEST CROSS STREET

Mkb Nagar 18th West Cross Street guideline value

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

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

The guideline value for Mkb Nagar 18th West Cross Street has seen several revisions over the years. The earliest recorded figure is from 2003, where the value was Rs 826 per sq.ft. This increased to Rs 1,000 per sq.ft in 2007, marking a 21% rise. The value then surged to Rs 4,000 per sq.ft in 2012, reflecting a significant 300% increase. However, it dropped to Rs 2,680 per sq.ft in 2017, a decrease of 33%. After this, the value rose to Rs 4,000 per sq.ft in 2023, followed by the current value of Rs 4,300 per sq.ft in 2024, which is an 8% increase from the previous year.

To summarize the revisions: from 2017 to 2023, the value increased by 49%, and overall, from 2003 to 2024, there has been a remarkable increase of 421%. It is important to note that there is no recorded figure for this street in 2002.

Guideline values in Perambur

In Perambur, the guideline values vary across different streets. As of 2024, the guideline values for streets in Perambur under the Purasaivakkam SRO range from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value of Mkb Nagar 18th West Cross Street is above this median.

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

Stamp duty and registration fee for property in Mkb Nagar 18th West 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, leading to a total of Rs 3,87,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

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

The Sub Registrar Office covering Mkb Nagar 18th West Cross Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during property transactions in Perambur. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers should be aware that the guideline value serves as a benchmark for the minimum value on which these fees are calculated.

When buying or selling property, it is essential to refer to the latest guideline value to ensure compliance with the registration requirements. This helps in accurately calculating the financial obligations associated with the property transaction.

Frequently asked questions

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

The current guideline value of Mkb Nagar 18th 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 826 per sq.ft in 2003 to Rs 4,300 per sq.ft in 2024, reflecting an overall increase of 421% over the years.

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

Mkb Nagar 18th West Cross Street is classified as Residential Class II Type - I.

What is the registration office for Mkb Nagar 18th West Cross Street?

The registration office for Mkb Nagar 18th West Cross Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the stamp duty calculated for properties in Mkb Nagar 18th West Cross Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a plot valued at Rs 4,300 per sq.ft, the total guideline value for a 1,000 sq.ft plot would be Rs 43,00,000.