Guideline Value for MKB NAGAR 2ND MAIN ROAD

Mkb Nagar 2nd Main Road guideline value

The current guideline value of Mkb Nagar 2nd 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 2nd Main Road has changed

The guideline value for Mkb Nagar 2nd Main Road has seen several revisions over the years. The earliest recorded figure is from 2003, at Rs 550 per sq.ft. This increased to Rs 800 per sq.ft in 2007, then rose significantly to Rs 4,500 per sq.ft in 2012, followed by a decrease to Rs 3,015 per sq.ft in 2017. The value then increased to Rs 4,500 per sq.ft in 2023, and finally, the current value is Rs 4,900 per sq.ft as per the 2024 revision. The register has no figure for this street in 2002.

In terms of percentage changes, the value increased by 9% from 2023 to 2024, while it saw a notable increase of 49% from 2017 to 2023. The value decreased by 33% from 2012 to 2017. The increase from 2007 to 2012 was a remarkable 463%, and from 2003 to 2007, it rose by 45%. Overall, from 2003 to 2024, the guideline value has increased by 791%.

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 2nd Main Road's current guideline value is above this median.

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

Stamp duty and registration fee for property in Mkb Nagar 2nd 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 would be Rs 49,00,000. The stamp duty, charged at 7%, would amount to Rs 3,43,000, while the registration fee at 2% would be Rs 98,000. Together, the total fees would be Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Mkb Nagar 2nd Main Road?

The Sub Registrar Office that covers Mkb Nagar 2nd 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 details.

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. It serves as a reference point for determining the minimum value at which properties can be registered. When a buyer purchases a property, the guideline value helps in calculating the applicable stamp duty and registration fees.

During the registration process, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, reflecting the property's value as per the established guidelines.

Frequently asked questions

What is the current guideline value of Mkb Nagar 2nd Main Road?

The current guideline value of Mkb Nagar 2nd 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 changed from Rs 550 per sq.ft in 2003 to Rs 4,900 per sq.ft in 2024, with various revisions in between, including a notable increase of 49% from 2017 to 2023.

What is the stamp duty for properties in Mkb Nagar 2nd Main Road?

The stamp duty for properties in Mkb Nagar 2nd Main Road is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Mkb Nagar 2nd Main Road located?

The Sub Registrar Office for Mkb Nagar 2nd Main Road is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification for Mkb Nagar 2nd Main Road?

The land classification for Mkb Nagar 2nd Main Road is Residential Class I Type - II, indicating its suitability for residential development.