Guideline Value

Corporate

Guideline Value for Lakshmi Nagar

₹6380/sq.ft.

The guideline value for Lakshmi Nagar in Porur village (Kunrathur SRO, Chennai zone) is Rs 6380 per sq.ft, effective 1 July 2024. It was Rs 5800 per sq.ft from 1 April 2023, a 10% change. The land classification is Commercial Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Porur

Village

Kunrathur

SRO

Commercial Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹6380 /sq.ft.
From 1-4-2023 ₹5800 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹3886 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹5800 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1000 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹600 /sq.ft.
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.59. Road Street, Kundrathur, Chennai -600 069.
044-24780515
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Lakshmi Nagar

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Lakshmi Nagar guideline value

The current guideline value of Lakshmi Nagar, located in Porur village under the Kunrathur SRO, is Rs 6,380 per sq.ft, effective from 1 July 2024. This area is classified as Commercial Class I Type - I.

How the guideline value of Lakshmi Nagar has changed

The guideline value for Lakshmi Nagar has seen several revisions over the years. In 2003, the guideline value was Rs 600 per sq.ft, which increased to Rs 1,000 per sq.ft in 2007. Following this, there was a significant rise to Rs 5,800 per sq.ft in 2012, but it then dropped to Rs 3,886 per sq.ft in 2017. The value increased again to Rs 5,800 per sq.ft in 2023, and currently stands at Rs 6,380 per sq.ft as of the 2024 revision. The register has no figure for this street for the year 2002.

Between the revisions, the changes were as follows: from 2003 to 2007, the value increased by 67%; from 2007 to 2012, it rose by 480%; however, there was a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and finally, there was a 10% increase from 2023 to 2024. Overall, from 2003 to 2024, the guideline value has increased by 963%.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 2,860 to Rs 6,380 per sq.ft, with a median value of Rs 3,960 per sq.ft. The guideline value of Lakshmi Nagar is above this median.

Stamp duty and registration fee for property in Lakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 6,380 per sq.ft, the total guideline value amounts to Rs 63,80,000. The stamp duty at 7% would be Rs 4,46,600, and the registration fee at 2% would be Rs 1,27,600, bringing the total to Rs 5,74,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lakshmi Nagar?

The Sub Registrar Office that covers Lakshmi Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Porur

The guideline value is crucial during the registration of property transactions in Porur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the correct revenue from property transactions, reflecting the value of the property as determined by the guideline value register.

Frequently asked questions

What is the current guideline value of Lakshmi Nagar?

The current guideline value of Lakshmi Nagar is Rs 6,380 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 600 per sq.ft in 2003 to Rs 6,380 per sq.ft in 2024, reflecting an overall increase of 963% over this period.

What is the land classification of Lakshmi Nagar?

Lakshmi Nagar is classified as Commercial Class I Type - I, which indicates its suitability for commercial activities.

Where can I find the Sub Registrar Office for Lakshmi Nagar?

The Sub Registrar Office for Lakshmi Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for property in Lakshmi Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 63,80,000 would incur a stamp duty of Rs 4,46,600 at 7%.