Guideline Value for MKB NAGAR 6TH CROSS STREET

Mkb Nagar 6th Cross Street guideline value

The current guideline value of Mkb Nagar 6th 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 it falls under the Residential Class II Type - I land classification.

How the guideline value of Mkb Nagar 6th Cross Street has changed

The guideline value for Mkb Nagar 6th Cross Street has seen significant changes over the years. In 2003, the value was Rs 552 per sq.ft, which increased to Rs 800 per sq.ft in 2007, marking a 45% rise. The value then surged to Rs 4,000 per sq.ft in 2012, reflecting a remarkable 400% increase. However, it decreased to Rs 2,680 per sq.ft in 2017, indicating a decline of 33%. By 2023, the value had climbed to Rs 4,000 per sq.ft, and the most recent revision in 2024 set the value at Rs 4,300 per sq.ft, an increase of 8% from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 679%. It is important to note that the register has no figure for the year 2002 for this street.

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. The median value for these streets is Rs 2,700 per sq.ft, making the 2024 figure for Mkb Nagar 6th Cross Street above that median.

• Mkb Nagar 5th Main Road 4th Link Street: Rs 4,300 per sq.ft (2024)
• Mkb Nagar 6th Main Road: Rs 4,900 per sq.ft (2024)
• Mkb Nagar 5th Main Road 3rd Link Street: Rs 4,300 per sq.ft (2024)
• Mkb Nagar 6th Main Road 1st Link Street: Rs 4,300 per sq.ft (2024)
• Mkb Nagar 5th Main Road 2nd Link Street: Rs 4,300 per sq.ft (2024)
• Mkb Nagar 6th Main Road 2nd Link Street: Rs 4,300 per sq.ft (2024)

Stamp duty and registration fee for property in Mkb Nagar 6th 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 would be Rs 43,00,000. The stamp duty, charged at 7%, would amount to Rs 3,01,000, and the registration fee, charged at 2%, would be Rs 86,000. Together, the total cost for stamp duty and registration would be 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.

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

Which Sub Registrar Office covers Mkb Nagar 6th Cross Street?

The Sub Registrar Office that covers Mkb Nagar 6th Cross Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. For further details, you can find your SRO.

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

The guideline value is an essential factor when registering property transactions in Perambur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property being exchanged. It is crucial for buyers to be aware of the guideline value to avoid overpaying and for sellers to set realistic expectations regarding the sale price.

Frequently asked questions

What is the current guideline value of Mkb Nagar 6th Cross Street?

The current guideline value of Mkb Nagar 6th 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 the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 43,00,000, the stamp duty would be Rs 3,01,000 and the registration fee would be Rs 86,000, totaling Rs 3,87,000.

Which Sub Registrar Office should I visit for transactions in Mkb Nagar 6th Cross Street?

The Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, covers Mkb Nagar 6th Cross Street.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum value for property registration, ensuring that appropriate stamp duty and registration fees are collected by the government during property transactions.