Guideline Value for MKB NAGAR CENTRAL AVENUE

Mkb Nagar Central Avenue guideline value

The current guideline value of Mkb Nagar Central Avenue is Rs 5,400 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of Mkb Nagar Central Avenue has changed

The guideline value for Mkb Nagar Central Avenue has seen significant changes over the years. Starting from Rs 550 per sq.ft in 2003, it increased to Rs 1,650 per sq.ft in 2007, marking a 200% rise. The value then rose to Rs 5,000 per sq.ft in 2012, which was a 203% increase from the previous revision. However, it dropped to Rs 3,350 per sq.ft in 2017, reflecting a decrease of 33%. The value then surged to Rs 5,000 per sq.ft in 2023, representing a 49% increase, before reaching the current rate of Rs 5,400 per sq.ft in 2024, an 8% rise from the previous year.

It is important to note that there is no figure available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 882%.

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 Central Avenue above the median.

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

Stamp duty and registration fee for property in Mkb Nagar Central Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 5,400 per sq.ft, the total guideline value would be Rs 54,00,000. The stamp duty, charged at 7%, would amount to Rs 3,78,000, and the registration fee, charged at 2%, would be Rs 1,08,000. Therefore, the total cost for stamp duty and registration fee together would be Rs 4,86,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Mkb Nagar Central Avenue?

The Sub Registrar Office that covers Mkb Nagar Central Avenue 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 crucial factor in the registration process when buying or selling property in Perambur. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is recorded at a fair value according to government standards.

When engaging in property transactions, it is essential to be aware of the guideline value as it affects the overall costs involved in the registration process. Buyers and sellers should refer to the latest guideline values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Mkb Nagar Central Avenue?

The current guideline value of Mkb Nagar Central Avenue is Rs 5,400 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 5,400 per sq.ft in 2024, representing an overall increase of 882% over this period.

What is the land classification for Mkb Nagar Central Avenue?

The land classification for Mkb Nagar Central Avenue is Residential Class I Type - I.

Where is the Purasaivakkam Sub Registrar Office located?

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

How is stamp duty calculated for properties in Mkb Nagar Central Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 3,78,000.