Guideline Value for Lakshmi Nagar VI th Cross Street

Lakshmi Nagar VI th Cross Street guideline value

The current guideline value of Lakshmi Nagar VI th 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 is classified as Residential Special Type - I.

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

Over the years, the guideline value for Lakshmi Nagar VI th Cross Street has seen significant changes. In 2002, the guideline value was Rs 446 per sq.ft, which rose to Rs 700 per sq.ft in 2003, marking an increase of 57%. The value continued to grow, reaching Rs 1,000 per sq.ft in 2007, a 43% increase from the previous revision. In 2012, it was recorded at Rs 3,600 per sq.ft, which was a substantial 260% rise from 2007. However, this figure dropped to Rs 2,412 per sq.ft in 2017, reflecting a decrease of 33%.

The most recent revisions show a rise to Rs 3,600 per sq.ft in 2023, followed by a further increase to Rs 3,960 per sq.ft in 2024, indicating a 10% growth. Overall, from 2002 to 2024, the guideline value has increased by 788%. There are no figures available for other years regarding this street.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that have 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 VI th Cross Street.

• Lakshmi Nagar VI th Main Road: Rs 3,960 per sq.ft (2024)
• Lakshmi Nagar VII th Cross Street: Rs 3,960 per sq.ft (2024)
• Lakshmi Nagar V th Cross Street: Rs 3,960 per sq.ft (2024)
• Lakshmi Nagar VII Main Road: Rs 3,960 per sq.ft (2024)
• Lakshmi Nagar VIIIth Cross Street: Rs 3,960 per sq.ft (2024)
• Lakshmi Nagar V th Main Road: Rs 3,960 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmi Nagar VI th 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, bringing the total fees together 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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lakshmi Nagar VI th Cross Street?

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

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

The guideline value is a crucial factor during the registration of property transactions in Porur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps in determining the minimum value at which the property can be registered. This ensures transparency and helps prevent undervaluation of properties during transactions.

Frequently asked questions

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

The current guideline value of Lakshmi Nagar VI th 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 increased from Rs 446 per sq.ft in 2002 to Rs 3,960 per sq.ft in 2024, reflecting an overall increase of 788% over the years.

What is the classification of land in Lakshmi Nagar VI th Cross Street?

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

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, with a stamp duty of Rs 2,77,200 and a registration fee of Rs 79,200, totaling Rs 3,56,400.

Where can I find the Sub Registrar Office for this street?

The Kunrathur Sub Registrar Office, which covers Lakshmi Nagar VI th Cross Street, is located at No.59, Road Street, Kundrathur, Chennai -600 069.