Guideline Value for MKB NAGAR 3RD MAIN ROAD

Mkb Nagar 3rd Main Road guideline value

The current guideline value of Mkb Nagar 3rd Main Road is Rs 4,900 per sq.ft, effective from 1 July 2024. This road is located in Perambur village and falls under the Purasaivakkam SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Mkb Nagar 3rd Main Road has changed

The guideline value for Mkb Nagar 3rd Main Road has undergone several revisions over the years. Starting from the 2003 revision, the value was Rs 550 per sq.ft. This increased to Rs 800 per sq.ft in 2007, followed by a significant rise to Rs 4,500 per sq.ft in 2012. However, it decreased to Rs 3,015 per sq.ft in 2017. The 2023 revision saw an increase to Rs 4,500 per sq.ft, and the most recent 2024 revision has set the value at Rs 4,900 per sq.ft. The register has no figure for the year 2002 for this street.

Between the revisions, the changes were notable. From 2003 to 2007, the guideline value increased by 45%. The value then surged by 463% from 2007 to 2012. A decrease of 33% was observed from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and finally, a 9% increase was noted from 2023 to 2024. Overall, from 2003 to 2024, the guideline value has risen by 791%.

Guideline values in Perambur

In Perambur village, there are 1114 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 3rd Main Road above this median.

• Mkb Nagar 3rd Cross Street: Rs 4,300 per sq.ft (2024)
• Mkb Nagar 4th Cross Street: Rs 4,300 per sq.ft (2024)
• Mkb Nagar 2nd Main Road: Rs 4,900 per sq.ft (2024)
• Mkb Nagar 4th Main Road: Rs 4,900 per sq.ft (2024)
• Mkb Nagar 2nd Cross Street: Rs 4,300 per sq.ft (2024)
• Mkb Nagar 5th Cross Street: Rs 4,300 per sq.ft (2024)

Stamp duty and registration fee for property in Mkb Nagar 3rd 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 at 7% would amount to Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total to Rs 4,41,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mkb Nagar 3rd Main Road?

The Sub Registrar Office that covers Mkb Nagar 3rd 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 during the registration of property transactions in Perambur. It determines the minimum value at which a property can be registered and is essential for calculating associated fees such as stamp duty and registration fees.

When buying or selling property, the guideline value ensures that transactions are conducted at a fair value as set by the registration authorities. It is important for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Mkb Nagar 3rd Main Road?

The current guideline value of Mkb Nagar 3rd 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 significantly from Rs 550 per sq.ft in 2003 to Rs 4,900 per sq.ft in 2024, representing an overall increase of 791% over the years.

What is the land classification for Mkb Nagar 3rd Main Road?

The land classification for Mkb Nagar 3rd Main Road is Residential Class I Type - II.

Where can I find the Sub Registrar Office for Mkb Nagar 3rd Main Road?

The Sub Registrar Office for Mkb Nagar 3rd Main Road 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 3rd Main Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000 at a rate of 7%.