Guideline Value for Lakshmi Nagar XIIIth Cross Street

Lakshmi Nagar XIIIth Cross Street guideline value

The current guideline value of Lakshmi Nagar XIIIth 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 falls under the Residential Special Type - I land classification.

How the guideline value of Lakshmi Nagar XIIIth Cross Street has changed

The guideline value for Lakshmi Nagar XIIIth Cross Street has seen several revisions over the years. In 2012, the value was Rs 3,600 per sq.ft, which then decreased to Rs 2,412 per sq.ft in 2017. Following this, the value increased significantly to Rs 3,600 per sq.ft in 2023, and then further rose to Rs 3,960 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Between the 2017 and 2023 revisions, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for 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 among these streets is Rs 3,960 per sq.ft, which is equal to the guideline value of Lakshmi Nagar XIIIth Cross Street.

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

Stamp duty and registration fee for property in Lakshmi Nagar XIIIth 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 cost of duty and fees Rs 3,56,400. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lakshmi Nagar XIIIth Cross Street?

The Sub Registrar Office that covers Lakshmi Nagar XIIIth 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 is a crucial factor in property transactions in Porur. It serves as a benchmark for determining the stamp duty and registration fees payable when buying or selling property. Buyers should be aware that the guideline value may influence the overall cost of the transaction.

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

Frequently asked questions

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

The current guideline value of Lakshmi Nagar XIIIth 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 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 of Lakshmi Nagar XIIIth Cross Street?

The land classification of Lakshmi Nagar XIIIth Cross Street is Residential Special Type - I.

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

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2% of the same amount. For example, a 1,000 sq.ft plot would incur a total fee of Rs 3,56,400.

Which office handles registrations for Lakshmi Nagar XIIIth Cross Street?

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