Guideline Value for MKB NAGAR 2ND CROSS STREET

Mkb Nagar 2nd Cross Street guideline value

The current guideline value of Mkb Nagar 2nd Cross Street is Rs 4,300 per sq.ft. 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 2nd Cross Street has changed

Since the 2003 revision, the guideline value has seen significant changes. In 2003, the value was Rs 552 per sq.ft, which increased to Rs 800 per sq.ft in 2007. The 2012 revision saw a rise 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 increased to Rs 4,000 per sq.ft in 2023, before reaching the current figure of Rs 4,300 per sq.ft in 2024.

From 2017 to 2023, there was a notable increase of 49%. The jump from 2023 to 2024 represents an 8% rise. Overall, from 2003 to 2024, the guideline value has increased by 679%.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO with 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 2nd Cross Street above this median.

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

Stamp duty and registration fee for property in Mkb Nagar 2nd Cross Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 43,00,000. The stamp duty at 7% amounts to Rs 3,01,000, and the registration fee at 2% is Rs 86,000, bringing the total to Rs 3,87,000. Please 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 information.

Which Sub Registrar Office covers Mkb Nagar 2nd Cross Street?

The Sub Registrar Office covering Mkb Nagar 2nd 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 an essential 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.

When buying or selling a property, the guideline value helps ensure that the transaction is registered at a fair value as per the local regulations. This value is crucial for both buyers and sellers to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Mkb Nagar 2nd Cross Street?

The current guideline value of Mkb Nagar 2nd 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 552 per sq.ft in 2003 to Rs 4,300 per sq.ft in 2024, marking an overall increase of 679% over this period.

What is the median guideline value for streets in Perambur?

The median guideline value for streets in Perambur is Rs 2,700 per sq.ft, with Mkb Nagar 2nd Cross Street's 2024 figure being above this median.

What are the stamp duty and registration fees for properties in Mkb Nagar 2nd Cross Street?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 3,87,000.

Which office handles property registrations for Mkb Nagar 2nd Cross Street?

The Purasaivakkam Sub Registrar Office handles property registrations for Mkb Nagar 2nd Cross Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.