Guideline Value for MKB NAGAR 1ST MAIN ROAD

Mkb Nagar 1st Main Road guideline value

The current guideline value of Mkb Nagar 1st Main Road is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, classified as Residential Class I Type - II.

How the guideline value of Mkb Nagar 1st Main Road has changed

The guideline value for Mkb Nagar 1st Main Road has undergone several revisions over the years. The earliest recorded figure is from 2003, where it was Rs 550 per sq.ft. This increased significantly to Rs 800 per sq.ft in 2007, followed by a substantial rise to Rs 4,500 per sq.ft in 2012. However, it decreased to Rs 3,015 per sq.ft in 2017. The guideline value then rose to Rs 4,500 per sq.ft in 2023, and currently stands at Rs 4,900 per sq.ft as of the 2024 revision.

In terms of percentage changes, from 2003 to 2007, there was an increase of 45%. The value then surged by 463% from 2007 to 2012. A decrease of 33% was observed from 2012 to 2017, followed by a significant increase of 49% from 2017 to 2023. The latest revision from 2023 to 2024 shows an increase of 9%. Overall, from 2003 to 2024, the guideline value has increased by 791%.

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. The median value for these streets is Rs 2,700 per sq.ft, placing Mkb Nagar 1st Main Road above this median.

• Mkb Nagar 1st Cross Street: Rs 4,300 per sq.ft (2024)
• Mkb Nagar 2nd Cross Street: Rs 4,300 per sq.ft (2024)
• Mkb Nagar 19th West Cross Street: Rs 4,300 per sq.ft (2024)
• Mkb Nagar 2nd Main Road: Rs 4,900 per sq.ft (2024)
• Mkb Nagar 19th East Cross Street: Rs 4,300 per sq.ft (2024)
• Mkb Nagar 3rd Cross Street: Rs 4,300 per sq.ft (2024)

Stamp duty and registration fee for property in Mkb Nagar 1st Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty, calculated at 7%, would be Rs 3,43,000, while the registration fee at 2% would be Rs 98,000. Together, these fees total Rs 4,41,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mkb Nagar 1st Main Road?

The Sub Registrar Office that covers Mkb Nagar 1st Main Road 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 property transactions in Perambur, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring compliance with legal requirements.

It is essential for buyers and sellers to be aware of the current guideline value as it can significantly affect the overall cost of the transaction. Proper understanding of these values helps in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of Mkb Nagar 1st Main Road?

The current guideline value of Mkb Nagar 1st Main Road is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 550 per sq.ft in 2003 to Rs 4,900 per sq.ft in 2024, with fluctuations in between.

What is the median guideline value for streets in Perambur?

The median guideline value for streets in Perambur under the Purasaivakkam SRO is Rs 2,700 per sq.ft, with Mkb Nagar 1st Main Road exceeding this figure.

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

Stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. These fees are calculated based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Mkb Nagar 1st Main Road located?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, and it handles all registrations for this area.