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Guideline Value

Corporate

Guideline Value for Lakshmi Nagar Extension/ Babu Garden 2

₹1650/sq.ft.

The guideline value for Lakshmi Nagar Extension/ Babu Garden 2 in Kovur village (Kunrathur SRO, Chennai zone) is Rs 1650 per sq.ft, effective 1 July 2024. It was Rs 1500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Special Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Kovur

Village

Kunrathur

SRO

Residential Special Type - I
History
Period Guideline Value
From 1-7-2024 ₹1650 /sq.ft.
From 1-4-2023 ₹1500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1005 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹1500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹150 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹37 /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 Extension/ Babu Garden 2

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Lakshmi Nagar Extension/ Babu Garden 2 guideline value

The current guideline value of Lakshmi Nagar Extension/ Babu Garden 2 is Rs 1,650 per sq.ft, effective from 1 July 2024. This property is located in Kovur village under the Kunrathur SRO, classified as Residential Special Type - I.

How the guideline value of Lakshmi Nagar Extension/ Babu Garden 2 has changed

The guideline value for Lakshmi Nagar Extension/ Babu Garden 2 has seen significant changes over the years. In 2003, the guideline value was Rs 37 per sq.ft, which increased to Rs 150 per sq.ft in 2007. This was a substantial rise of 305%. The value then jumped dramatically to Rs 1,500 per sq.ft in 2012, marking an increase of 900%. However, it decreased to Rs 1,005 per sq.ft in 2017, a reduction of 33%. The value rose again to Rs 1,500 per sq.ft in 2023, followed by a further increase to Rs 1,650 per sq.ft in 2024, reflecting a change of 10%.

Overall, from 2003 to 2024, the guideline value has increased by 4,359%. The register does not provide figures for the year 2002 for this street.

Guideline values in Kovur

In Kovur, there are 91 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft, with the median being Rs 1,650 per sq.ft. The guideline value for Lakshmi Nagar Extension/ Babu Garden 2 aligns with this median.

Stamp duty and registration fee for property in Lakshmi Nagar Extension/ Babu Garden 2

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, while the registration fee at 2% would be Rs 33,000. Together, the total cost would be Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lakshmi Nagar Extension/ Babu Garden 2?

The Sub Registrar Office that covers Lakshmi Nagar Extension/ Babu Garden 2 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 Kovur

The guideline value plays a crucial role in the registration process when buying or selling property in Kovur. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware of the current guideline value to ensure they are paying the correct fees.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Lakshmi Nagar Extension/ Babu Garden 2?

The current guideline value of Lakshmi Nagar Extension/ Babu Garden 2 is Rs 1,650 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 37 per sq.ft in 2003 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 4,359%.

What are the stamp duty and registration fees for property in this area?

For a 1,000 sq.ft plot, the total guideline value is Rs 16,50,000. The stamp duty would be Rs 1,15,500, and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which office handles registrations for Lakshmi Nagar Extension/ Babu Garden 2?

The Kunrathur Sub Registrar Office handles registrations for Lakshmi Nagar Extension/ Babu Garden 2, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification for Lakshmi Nagar Extension/ Babu Garden 2?

The land classification for Lakshmi Nagar Extension/ Babu Garden 2 is Residential Special Type - I.