Guideline Value for MKB NAGAR 7TH CROSS STREET

Mkb Nagar 7th Cross Street guideline value

The current guideline value of Mkb Nagar 7th 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 is classified as Residential Class II Type - I.

How the guideline value of Mkb Nagar 7th Cross Street has changed

The guideline value for Mkb Nagar 7th Cross Street has undergone several revisions over the years. Starting from the 2003 revision, the value was Rs 552 per sq.ft. It increased to Rs 800 per sq.ft in 2007, marking a significant rise of 45%. The 2012 revision saw the value at Rs 4,000 per sq.ft, which was a substantial increase of 400% from the previous revision. However, in the 2017 revision, the value decreased to Rs 2,680 per sq.ft, reflecting a decline of 33%. The 2023 revision brought the value back up to Rs 4,000 per sq.ft, and the latest 2024 revision has set it at Rs 4,300 per sq.ft, an increase of 8% from the previous year.

Overall, from the 2003 to the 2024 revision, 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, the guideline values vary significantly, with 1114 streets under the Purasaivakkam SRO carrying a 2024 figure 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 7th Cross Street's 2024 figure above that median.

• Mkb Nagar 6th Main Road 4th Link Street: Rs 4,300 per sq.ft (2024)
• Mkb Nagar 7th Main Road: Rs 4,900 per sq.ft (2024)
• Mkb Nagar 6th Main Road 3rd Link Street: Rs 4,300 per sq.ft (2024)
• Mkb Nagar 8th Cross Street: Rs 4,300 per sq.ft (2024)
• Mkb Nagar 6th Main Road 2nd Link Street: Rs 4,300 per sq.ft (2024)
• Mkb Nagar 8th Main Road: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Mkb Nagar 7th 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 at 7% would amount to Rs 3,01,000, while the registration fee at 2% would be Rs 86,000. Together, the total cost for stamp duty and registration fees would be Rs 3,87,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Mkb Nagar 7th Cross Street?

The Sub Registrar Office that covers Mkb Nagar 7th 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 information.

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

The guideline value plays a crucial role in the property registration process in Perambur. When buying or selling a property, the guideline value is used to determine the stamp duty and registration fees, which are essential costs associated with the transaction.

It is important for buyers and sellers to be aware of the guideline value as it can affect the overall cost of the property transaction. The registration office will refer to the guideline value to ensure that the appropriate fees are calculated based on the current rates.

Frequently asked questions

What is the current guideline value of Mkb Nagar 7th Cross Street?

The current guideline value of Mkb Nagar 7th 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, reflecting a total increase of 679% over the years.

What is the land classification for Mkb Nagar 7th Cross Street?

Mkb Nagar 7th Cross Street is classified as Residential Class II Type - I.

Where is the Sub Registrar Office for Mkb Nagar 7th Cross Street located?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the stamp duty calculated for properties in Mkb Nagar 7th Cross Street?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 43,00,000, the stamp duty would be Rs 3,01,000.