Guideline Value for MKB NAGAR 9TH CROSS STREET

Mkb Nagar 9th Cross Street guideline value

The current guideline value of Mkb Nagar 9th Cross Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the jurisdiction of the Purasaivakkam SRO, and is classified as Residential Class I Type - II.

How the guideline value of Mkb Nagar 9th Cross Street has changed

The guideline value for Mkb Nagar 9th Cross Street has seen several 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 significant rise of 45%. The value then surged to Rs 5,000 per sq.ft in 2012, reflecting a remarkable increase of 525%. However, this was followed by a decrease to Rs 3,015 per sq.ft in 2017, a drop of 40%. The value rose again to Rs 4,500 per sq.ft in 2023, and then to the current value of Rs 4,900 per sq.ft in 2024, representing a 9% increase.

It is important to note that there are no figures available for the year 2002 for this street. Overall, from 2003 to 2024, the guideline value has increased by 788%.

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 current guideline value of Mkb Nagar 9th Cross Street above this median.

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

Stamp duty and registration fee for property in Mkb Nagar 9th Cross Street

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 the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mkb Nagar 9th Cross Street?

The Sub Registrar Office that covers Mkb Nagar 9th 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 is an essential aspect of property transactions in Perambur. It serves as a reference point for determining the stamp duty and registration fees applicable when buying or selling property. This value is crucial for ensuring transparency and consistency in property transactions.

When you register a property, the guideline value is used to calculate the stamp duty and registration fees. The fees are based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Mkb Nagar 9th Cross Street?

The current guideline value of Mkb Nagar 9th Cross Street 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 from Rs 552 per sq.ft in 2003 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 788% over this period.

What is the land classification of Mkb Nagar 9th Cross Street?

Mkb Nagar 9th Cross Street is classified as Residential Class I Type - II.

Where is the Sub Registrar Office for Mkb Nagar 9th Cross Street located?

The Sub Registrar Office for Mkb Nagar 9th Cross Street 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 9th Cross Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 3,43,000.