Guideline Value for MKB NAGAR NORTH AVENUE

Mkb Nagar North Avenue guideline value

The current guideline value of Mkb Nagar North Avenue is Rs 5,400 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 - I.

How the guideline value of Mkb Nagar North Avenue has changed

The guideline value for Mkb Nagar North Avenue has seen significant changes over the years. In 2003, the value was Rs 477 per sq.ft, which increased to Rs 1,200 per sq.ft in 2007, marking a 152% rise. The value then surged to Rs 5,000 per sq.ft in 2012, reflecting a 317% increase. However, it dropped to Rs 3,350 per sq.ft in 2017, a decrease of 33%. The value then rose to Rs 5,000 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 5,400 per sq.ft, an increase of 8% from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1032%. It is important to note that the register has no 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. The median value is Rs 2,700 per sq.ft, placing Mkb Nagar North Avenue's 2024 figure above this median.

• Mkb Nagar Other Streets: Rs 4,300 per sq.ft (2024)
• Mkb Nagar West Avenue: Rs 5,400 per sq.ft (2024)
• Mkb Nagar East Avenue: Rs 5,400 per sq.ft (2024)
• 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)

Stamp duty and registration fee for property in Mkb Nagar North 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, while the registration fee at 2% would be Rs 1,08,000. The total cost for these fees 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mkb Nagar North Avenue?

The Sub Registrar Office that covers Mkb Nagar North Avenue 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 a crucial factor when registering property transactions in Perambur. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the official value set by the government.

When buying or selling property, the guideline value helps both parties understand the minimum value for registration purposes. It is essential to be aware of the current guideline value to avoid discrepancies during the transaction process.

Frequently asked questions

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

The current guideline value of Mkb Nagar North 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 477 per sq.ft in 2003 to Rs 5,400 per sq.ft in 2024, representing a total increase of 1032% over this period.

What are the stamp duty rates for property in Mkb Nagar North Avenue?

The stamp duty for property in Mkb Nagar North Avenue is charged at 7% of the guideline value or sale price, whichever is higher.

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

The Purasaivakkam Sub Registrar Office covers Mkb Nagar North Avenue and is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the median guideline value in Perambur?

The median guideline value in Perambur is Rs 2,700 per sq.ft, with Mkb Nagar North Avenue's value being above this median at Rs 5,400 per sq.ft.