Guideline Value for Lakshmi Nagar Extention IInd Cross Street

Lakshmi Nagar Extention IInd Cross Street guideline value

The current guideline value of Lakshmi Nagar Extention IInd Cross Street is Rs 3,960 per sq.ft, effective from 1 July 2024. This street is located in Porur village under the Kunrathur SRO, and it is classified as Residential Special Type - I.

How the guideline value of Lakshmi Nagar Extention IInd Cross Street has changed

Looking at the revisions, the guideline value for Lakshmi Nagar Extention IInd Cross Street has seen several changes over the years. The 2012 revision set the value at Rs 3,600 per sq.ft, which was followed by a decrease to Rs 2,412 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 3,600 per sq.ft. The most recent 2024 revision has further increased the guideline value to Rs 3,960 per sq.ft, marking a 10% rise from the previous year.

It is important to note that there are no figures available for the revisions in the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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 across these streets is Rs 3,960 per sq.ft, which is the same as the guideline value for Lakshmi Nagar Extention IInd Cross Street. Below are other streets in Porur with their respective guideline values:

• Lakshmi Nagar Extention IIIrd Main Road: Rs 3,960 per sq.ft (2024)
• Lakshmi Nagar Extention IInd Main Road: Rs 3,960 per sq.ft (2024)
• Lakshmi Nagar Extention IIIrd Cross Street: Rs 3,960 per sq.ft (2024)
• Lakshmi Nagar Extention Ist Cross street: Rs 3,960 per sq.ft (2024)
• Lakshmi Nagar Extention Ist Main Road: Rs 3,960 per sq.ft (2024)
• Lakshmi Nagar Extention IVth Cross Street: Rs 3,960 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Nagar Extention IInd 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 amounts to Rs 39,60,000. The stamp duty at 7% would be 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 the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Lakshmi Nagar Extention IInd Cross Street?

The Lakshmi Nagar Extention IInd Cross Street is covered by the Kunrathur Sub Registrar Office located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

When buying or selling property in Porur, the guideline value serves as a benchmark for determining the minimum price at which a property can be registered. It is essential for calculating the stamp duty and registration fees that the buyer must pay during the transaction.

The guideline value is particularly significant as it ensures that the government receives appropriate revenue from property transactions. Buyers should be aware that the actual sale price must be equal to or greater than the guideline value for the registration process to proceed smoothly.

Frequently asked questions

What is the current guideline value for Lakshmi Nagar Extention IInd Cross Street?

The current guideline value for Lakshmi Nagar Extention IInd Cross Street is Rs 3,960 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,600 per sq.ft in 2012 to Rs 2,412 per sq.ft in 2017, then increased to Rs 3,600 per sq.ft in 2023, and finally to Rs 3,960 per sq.ft in 2024.

What is the land classification for this street?

Lakshmi Nagar Extention IInd Cross Street is classified as Residential Special Type - I, which indicates its intended use for residential purposes.

What are the stamp duty and registration fees for property transactions here?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For example, on a 1,000 sq.ft plot, the total charges would amount to Rs 3,56,400.

Which office handles registrations for this area?

The Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069, handles registrations for Lakshmi Nagar Extention IInd Cross Street.