Guideline Value for MKB NAGAR OTHER STREETS

Mkb Nagar Other Streets guideline value

The current guideline value of Mkb Nagar Other Streets is Rs 4,300 per sq.ft, effective from 1 July 2024. This area is located in Perambur village, under the Purasaivakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Mkb Nagar Other Streets has changed

The guideline value for Mkb Nagar Other Streets has seen significant changes over the years. In 2003, the guideline value was Rs 550 per sq.ft, which increased to Rs 800 per sq.ft in 2007, marking a 45% rise. The value then experienced a substantial jump to Rs 4,000 per sq.ft in 2012, reflecting a 400% increase. However, it decreased to Rs 2,680 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,300 per sq.ft in 2024, representing an 8% increase.

Overall, from 2003 to 2024, the guideline value has increased by 682%. It is important to note that the register does not have a figure for the year 2002 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 guideline value in this area is Rs 2,700 per sq.ft, placing Mkb Nagar Other Streets above this median.

• Mkb Nagar North Avenue: Rs 5,400 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 Other Streets

For a 1,000 sq.ft plot at the current guideline value of Rs 4,300 per sq.ft, the total guideline value would be Rs 43,00,000. The stamp duty at 7% would amount to Rs 3,01,000, while the registration fee at 2% would be Rs 86,000. Together, the total fees would be Rs 3,87,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mkb Nagar Other Streets?

The Sub Registrar Office that covers Mkb Nagar Other Streets 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 in the registration process when buying or selling property in Perambur. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on the current market standards as set by the Registration Department.

When a property is sold, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Mkb Nagar Other Streets?

The current guideline value of Mkb Nagar Other Streets is Rs 4,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 550 per sq.ft in 2003 to Rs 4,300 per sq.ft in 2024, an overall increase of 682%.

What is the registration office for Mkb Nagar Other Streets?

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

How is stamp duty calculated in Mkb Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applied to the same amount.

What are the guideline values of other streets in Perambur?

Other streets in Perambur have varying guideline values, with rates ranging from Rs 1,600 to Rs 7,100 per sq.ft. Mkb Nagar Other Streets has a guideline value of Rs 4,300 per sq.ft, which is above the median of Rs 2,700 per sq.ft.