Guideline Value for Lakshmi Nagar XIIth Cross Street

Lakshmi Nagar XIIth Cross Street guideline value

The current guideline value of Lakshmi Nagar XIIth 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 XIIth Cross Street has changed

The guideline value for Lakshmi Nagar XIIth Cross Street has undergone several revisions over the years. The oldest recorded revision is from 2012, with a value of Rs 3,600 per sq.ft. This was followed by a decrease to Rs 2,412 per sq.ft in 2017. The 2023 revision saw an increase to Rs 3,600 per sq.ft, and the most recent 2024 revision has set the value at Rs 3,960 per sq.ft, marking a 10% increase from the previous year.

In total, from 2012 to 2024, the guideline value has increased by 10%. Notably, there are no recorded figures for the years 2002, 2003, and 2007 for this street in the register.

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 is Rs 3,960 per sq.ft, which is equal to the current guideline value of Lakshmi Nagar XIIth Cross Street.

• Lakshmi Nagar XIIIth 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 Main Road: Rs 3,960 per sq.ft (2024)
• Lakshmi Nagar Xth Cross Street: Rs 3,960 per sq.ft (2024)
• Lakshmi Nagar V th 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 XIIth 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. Together, the total cost for stamp duty and registration fee would be Rs 3,56,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lakshmi Nagar XIIth Cross Street?

The Lakshmi Nagar XIIth Cross Street falls under the jurisdiction of 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 the registration process when buying or selling property in Porur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

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

Frequently asked questions

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

The current guideline value of Lakshmi Nagar XIIth 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 back to Rs 3,600 per sq.ft in 2023, and finally to Rs 3,960 per sq.ft in 2024.

What is the registration office for Lakshmi Nagar XIIth Cross Street?

The registration office for Lakshmi Nagar XIIth Cross Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What are the stamp duty rates applicable in Lakshmi Nagar XIIth Cross Street?

The stamp duty rate applicable in Lakshmi Nagar XIIth Cross Street is 7% of the guideline value or the sale price, whichever is higher.

What is the land classification of Lakshmi Nagar XIIth Cross Street?

The land classification of Lakshmi Nagar XIIth Cross Street is Residential Special Type - I, indicating its designated use for residential purposes.