Guideline Value for Lakshmi Nagar 11th Cross Street

Lakshmi Nagar 11th Cross Street guideline value

The current guideline value of Lakshmi Nagar 11th Cross Street is Rs 3,960 per sq.ft, effective from 1 July 2024. This street is located in Porur village and falls under the Kunrathur SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Lakshmi Nagar 11th Cross Street has changed

The guideline value for Lakshmi Nagar 11th Cross Street has seen several revisions over the years. In 2002, the value was Rs 446 per sq.ft. This increased to Rs 600 per sq.ft in 2003, marking a 35% rise. By 2007, the value had jumped significantly to Rs 1,000 per sq.ft, showing an increase of 67%. The 2012 revision saw the value rise to Rs 3,600 per sq.ft, which was a substantial 260% increase from the previous figure. However, in 2017, the value dropped to Rs 2,412 per sq.ft, reflecting a decrease of 33%. The 2023 revision brought the value back up to Rs 3,600 per sq.ft, and the most recent revision in 2024 set it at Rs 3,960 per sq.ft, a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 788%. There are no figures available for the years not mentioned in the register for this street.

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. The median value is Rs 3,960 per sq.ft, which is the same as the guideline value for Lakshmi Nagar 11th Cross Street.

• Lakshmi Nagar 12th Cross Street: Rs 3,960 per sq.ft (2024)
• Lakshmi Nagar 10th Cross Street: Rs 3,960 per sq.ft (2024)
• Lakshmi Nagar 1st Main Road Lane: Rs 3,960 per sq.ft (2024)
• Lakshmi Nagar: Rs 6,380 per sq.ft (2024)
• Lakshmi Nagar 40 Feet Main Road: Rs 3,960 per sq.ft (2024)
• Lakshmi Nagar 40 feet main Road Lane: Rs 3,960 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Nagar 11th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,960 per sq.ft, the total guideline value would be Rs 39,60,000. The stamp duty at 7% would amount to Rs 2,77,200, and the registration fee at 2% would be Rs 79,200, making the total charges Rs 3,56,400. 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 Lakshmi Nagar 11th Cross Street?

The Sub Registrar Office that covers Lakshmi Nagar 11th Cross Street 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 plays a crucial role in the registration process of property transactions in Porur. It is used to determine the stamp duty and registration fees applicable when a property is bought or sold. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations.

When registering a property, the duty is charged based on the higher value between the guideline value and the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Lakshmi Nagar 11th Cross Street?

The current guideline value of Lakshmi Nagar 11th Cross Street is Rs 3,960 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 446 per sq.ft to Rs 3,960 per sq.ft in 2024, marking an overall increase of 788%.

What is the land classification for Lakshmi Nagar 11th Cross Street?

The land classification for Lakshmi Nagar 11th Cross Street is Residential Special Type - I.

What are the stamp duty and registration fees for a property in Lakshmi Nagar 11th Cross Street?

The stamp duty is 7% and the registration fee is 2%. For a 1,000 sq.ft plot, the total charges would be Rs 3,56,400.

Where is the Sub Registrar Office located for Lakshmi Nagar 11th Cross Street?

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