Guideline Value for MKB NAGAR 8TH MAIN ROAD

Mkb Nagar 8th Main Road guideline value

The current guideline value of Mkb Nagar 8th 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 and is classified as Residential Class I Type - II.

How the guideline value of Mkb Nagar 8th Main Road has changed

The guideline value for Mkb Nagar 8th Main Road has seen several revisions over the years. In 2003, the value was Rs 550 per sq.ft, which increased to Rs 800 per sq.ft in 2007. This was followed by a significant rise to Rs 4,500 per sq.ft in 2012, but it then dropped to Rs 3,015 per sq.ft in 2017. The value rose again to Rs 4,500 per sq.ft in 2023, and as of the 2024 revision, it stands at Rs 4,900 per sq.ft. The changes between these revisions show an increase of 791% from 2003 to 2024.

Between the most recent revisions, the value increased by 9% from 2023 to 2024. The increase from 2017 to 2023 was 49%, while there was a decrease of 33% from 2012 to 2017. The jump from 2007 to 2012 was a remarkable 463%, and from 2003 to 2007, the increase was 45%. The register does not have a figure for the year 2002 for this street.

Guideline values in Perambur

In Perambur, there are 1114 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 8th Main Road's 2024 guideline value is above this median.

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

Stamp duty and registration fee for property in Mkb Nagar 8th 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, and the registration fee at 2% would be Rs 98,000, bringing the total fees together to Rs 4,41,000. 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 8th Main Road?

The Sub Registrar Office that covers Mkb Nagar 8th 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 critical factor in the registration process when buying or selling property in Perambur. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Mkb Nagar 8th Main Road?

The current guideline value of Mkb Nagar 8th 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, marking an overall increase of 791% over this period.

What is the land classification for Mkb Nagar 8th Main Road?

Mkb Nagar 8th Main Road is classified as Residential Class I Type - II, indicating its designation for residential use.

Where can I find the Sub Registrar Office for Mkb Nagar 8th Main Road?

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

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher value between the guideline value and the sale price of the property. The current rate for stamp duty is 7%, while the registration fee is 2% of the guideline value or sale price.