Guideline Value for MKB NAGAR 8TH CROSS STREET

Mkb Nagar 8th Cross Street guideline value

The current guideline value of Mkb Nagar 8th Cross Street is Rs 4,300 per sq.ft. This street is located in Perambur village, under the Purasaivakkam SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Mkb Nagar 8th Cross Street has changed

The guideline value for Mkb Nagar 8th Cross Street has undergone several revisions over the years. The earliest recorded figure is from 2003, which was Rs 552 per sq.ft. This increased to Rs 800 per sq.ft in 2007, marking a significant rise of 45%. The value then jumped to Rs 4,000 per sq.ft in 2012, a remarkable increase of 400%. However, it decreased to Rs 2,680 per sq.ft in 2017, reflecting a decline of 33%. The value rose again to Rs 4,000 per sq.ft in 2023, followed by the current figure of Rs 4,300 per sq.ft effective from 1 July 2024, which is an increase of 8% from the previous year.

Notably, there is no recorded guideline value for Mkb Nagar 8th Cross Street in 2002. 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 guideline value for these streets is Rs 2,700 per sq.ft, placing Mkb Nagar 8th Cross Street above this median.

• Mkb Nagar 7th Main Road: Rs 4,900 per sq.ft (2024)
• Mkb Nagar 8th Main Road: Rs 4,900 per sq.ft (2024)
• Mkb Nagar 7th Cross Street: Rs 4,300 per sq.ft (2024)
• Mkb Nagar 9th Cross Street: Rs 4,900 per sq.ft (2024)
• Mkb Nagar 6th Main Road 4th Link Street: Rs 4,300 per sq.ft (2024)
• Mkb Nagar Central Avenue: Rs 5,400 per sq.ft (2024)

Stamp duty and registration fee for property in Mkb Nagar 8th 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 amounts to Rs 43,00,000. The stamp duty at 7% would be Rs 3,01,000, and the registration fee at 2% would be Rs 86,000, bringing the total to 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mkb Nagar 8th Cross Street?

The Sub Registrar Office that covers Mkb Nagar 8th 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 plays a crucial role in the registration process when buying or selling property in Perambur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fairness in property transactions.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Mkb Nagar 8th Cross Street?

The current guideline value of Mkb Nagar 8th 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 an overall increase of 679% over the years.

What is the median guideline value in Perambur?

The median guideline value for streets in Perambur under the Purasaivakkam SRO is Rs 2,700 per sq.ft, which is below the current value of Mkb Nagar 8th Cross Street.

What fees are associated with buying property in Mkb Nagar 8th Cross Street?

When buying property in Mkb Nagar 8th Cross Street, the buyer must pay a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Mkb Nagar 8th Cross Street?

The Sub Registrar Office for Mkb Nagar 8th Cross Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.