Guideline Value for MKB NAGAR EAST AVENUE

Mkb Nagar East Avenue guideline value

The current guideline value of Mkb Nagar East Avenue is Rs 5,400 per sq.ft. This street is located in Perambur village, under the Purasaivakkam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Mkb Nagar East Avenue has changed

The guideline value for Mkb Nagar East Avenue has seen significant changes over the years. In 2007, the value was Rs 800 per sq.ft, which rose dramatically to Rs 5,000 per sq.ft by 2012, marking an increase of 525%. However, from 2012 to 2017, the value decreased to Rs 3,350 per sq.ft, a decline of 33%. The value then increased again to Rs 5,000 per sq.ft in 2023, followed by a further rise to Rs 5,400 per sq.ft in the 2024 revision, reflecting an increase of 8%.

Overall, from 2007 to 2024, the guideline value has increased by 575%. Notably, the revisions for the years 2002 and 2003 do not have figures listed for this street.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO, with guideline values 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 East Avenue's current value above this median.

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

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

For a 1,000 sq.ft plot at the current guideline value of Rs 5,400 per sq.ft, the total guideline value amounts to Rs 54,00,000. The stamp duty, charged at 7%, would be Rs 3,78,000, and the registration fee at 2% would be Rs 1,08,000. Therefore, the total cost for stamp duty and registration fee 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.

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

Which Sub Registrar Office covers Mkb Nagar East Avenue?

The Sub Registrar Office that covers Mkb Nagar East Avenue is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for additional 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 of property transactions in Perambur. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the current guideline value, as it can affect the overall costs involved in the transaction. Buyers should ensure that they are prepared for the costs associated with stamp duty and registration fees based on the guideline value.

Frequently asked questions

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

The current guideline value of Mkb Nagar East 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 increased from Rs 800 per sq.ft in 2007 to Rs 5,400 per sq.ft in 2024, with various fluctuations in between.

What is the land classification of Mkb Nagar East Avenue?

Mkb Nagar East Avenue is classified as Residential Class I Type - I.

Where can I find the Sub Registrar Office for Mkb Nagar East Avenue?

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

How is stamp duty calculated for property in Mkb Nagar East Avenue?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 54,00,000 would incur a stamp duty of Rs 3,78,000.