Guideline Value for Lakshmi Nagar II nd Cross Street

Lakshmi Nagar II nd Cross Street guideline value

The current guideline value of Lakshmi Nagar II nd 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 II nd Cross Street has changed

The guideline value for Lakshmi Nagar II nd Cross Street has seen several revisions over the years. In 2002, the value was Rs 505 per sq.ft, which increased to Rs 700 per sq.ft in 2003, marking a 39% rise. The value then rose to Rs 1,000 per sq.ft in 2007, reflecting a 43% increase. By 2012, the guideline value had significantly jumped to Rs 3,600 per sq.ft, a 260% increase from the previous revision. However, it dropped to Rs 2,412 per sq.ft in 2017, which was a decline of 33% from 2012. The value then increased to Rs 3,600 per sq.ft in 2023, before reaching the current figure of Rs 3,960 per sq.ft in 2024, showing a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 684%. There are no figures available for the years not listed 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 for these streets is Rs 3,960 per sq.ft, which is the same as the guideline value for Lakshmi Nagar II nd Cross Street.

• Lakshmi Nagar IIIrd Main Road: Rs 3,960 per sq.ft (2024)
• Lakshmi Nagar II nd Main Road: Rs 3,960 per sq.ft (2024)
• Lakshmi Nagar II nd Street: Rs 3,960 per sq.ft (2024)
• Lakshmi Nagar IIIrd Cross Street: Rs 3,960 per sq.ft (2024)
• Lakshmi Nagar Ist Cross Street: Rs 3,960 per sq.ft (2024)
• Lakshmi Nagar Ist Main Road: Rs 3,960 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Nagar II nd 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, bringing the total cost for these fees to 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 II nd Cross Street?

The Sub Registrar Office that covers Lakshmi Nagar II nd Cross Street is 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

The guideline value is an important figure used during the registration of property transactions in Porur. It serves as a benchmark for determining the applicable stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When buying or selling property, it is crucial to be aware of the current guideline value, as it directly impacts the costs associated with the transaction. Ensuring that you have the correct information can help facilitate a smoother registration process.

Frequently asked questions

What is the current guideline value of Lakshmi Nagar II nd Cross Street?

The current guideline value of Lakshmi Nagar II nd 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 505 per sq.ft in 2002 to Rs 3,960 per sq.ft in 2024, reflecting an overall increase of 684% over the years.

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 39,60,000. The stamp duty would be Rs 2,77,200 and the registration fee would be Rs 79,200, totaling Rs 3,56,400.

Which Sub Registrar Office handles registrations for Lakshmi Nagar II nd Cross Street?

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

What is the land classification for Lakshmi Nagar II nd Cross Street?

The land classification for Lakshmi Nagar II nd Cross Street is Residential Special Type - I.