Guideline Value for MKB NAGAR WEST AVENUE

Mkb Nagar West Avenue guideline value

The current guideline value of Mkb Nagar West 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 West Avenue has changed

Over the years, the guideline value of Mkb Nagar West Avenue has seen significant changes. The earliest recorded value was Rs 643 per sq.ft in 2003, which increased to Rs 1,000 per sq.ft in 2007. Following this, the value surged to Rs 5,000 per sq.ft in 2012, but then decreased to Rs 3,350 per sq.ft in 2017. The value rose again to Rs 5,000 per sq.ft in 2023 and is now set at Rs 5,400 per sq.ft for the 2024 revision.

From 2017 to 2023, there was a notable increase of 49%, while the jump from 2023 to 2024 is 8%. The most considerable change occurred between 2007 and 2012, with a remarkable increase of 400%. Overall, from 2003 to 2024, the guideline value has increased by 740%. The register has no figure for this street in 2002.

Guideline values in Perambur

In Perambur, 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, with a median value of Rs 2,700 per sq.ft. Mkb Nagar West Avenue's 2024 figure is above this median.

• Mkb Nagar Other Streets: Rs 4,300 per sq.ft (2024)
• Mkb Nagar North 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 West 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 at 7% would be Rs 3,78,000, and the registration fee at 2% would be Rs 1,08,000, leading to a total of Rs 4,86,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mkb Nagar West Avenue?

The Sub Registrar Office covering Mkb Nagar West 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 when buying or selling property in Perambur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers should be aware that the guideline value can influence the stamp duty and registration fees applicable during the transaction.

When registering a property, the guideline value is used to calculate the applicable fees, ensuring that the transaction is aligned with government regulations. It is essential for both parties to understand the implications of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of Mkb Nagar West 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 of Mkb Nagar West Avenue has changed significantly from Rs 643 per sq.ft in 2003 to Rs 5,400 per sq.ft in 2024, with various increases and decreases in between.

What is the stamp duty for a property in Mkb Nagar West Avenue?

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

What is the registration fee for properties in this area?

The registration fee for properties in Mkb Nagar West Avenue is 2% of the guideline value or the sale price, whichever is higher.

Which office handles registrations for Mkb Nagar West Avenue?

The Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, handles registrations for Mkb Nagar West Avenue.