Guideline Value for Lakshmi Nagar Xth Cross Street

Lakshmi Nagar Xth Cross Street guideline value

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

Over the years, the guideline value for Lakshmi Nagar Xth Cross Street has seen several revisions. The 2012 revision set the value at Rs 3,600 per sq.ft, which decreased to Rs 2,412 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 3,600 per sq.ft, and the latest revision in 2024 has raised it further to Rs 3,960 per sq.ft, marking a 10% increase from the previous year.

Looking at the changes, the guideline value has increased by 49% from 2017 to 2023. The 2012 to 2017 period saw a decrease of 33%. 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 with a 2024 guideline value ranging from Rs 2,860 to Rs 6,380 per sq.ft. The median guideline value is Rs 3,960 per sq.ft, which is the same as the guideline value for Lakshmi Nagar Xth Cross Street.

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

Which Sub Registrar Office covers Lakshmi Nagar Xth Cross Street?

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

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

The guideline value plays a crucial role during the registration of property transactions in Porur. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the transaction is fairly assessed for tax purposes.

Frequently asked questions

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

The current guideline value of Lakshmi Nagar Xth 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 2023 to Rs 3,960 per sq.ft in 2024, marking a 10% increase. It was Rs 2,412 per sq.ft in 2017, showing an increase of 49% to 2023.

Where can I find the registration office for Lakshmi Nagar Xth Cross Street?

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

What is the stamp duty rate for property in Lakshmi Nagar Xth Cross Street?

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

How is the guideline value determined for properties in Porur?

The guideline value for properties in Porur is determined by the Registration Department's guideline value register, which is revised periodically based on various factors.