Guideline Value

Corporate

Guideline Value for New colony lakshmi nagar

₹4950/sq.ft.

The guideline value for New Colony Lakshmi Nagar in Porur village (Kunrathur SRO, Chennai zone) is Rs 4950 per sq.ft, effective 1 July 2024. It was Rs 4500 per sq.ft from 1 April 2023, a 10% change. The land classification is Mixed Special Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Porur

Village

Kunrathur

SRO

Mixed Special Type - I
History
Period Guideline Value
From 1-7-2024 ₹4950 /sq.ft.
From 1-4-2023 ₹4500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹3015 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹4500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1000 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹568 /sq.ft.
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.59. Road Street, Kundrathur, Chennai -600 069.
044-24780515
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on New Colony Lakshmi Nagar

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New colony lakshmi nagar guideline value

The current guideline value for New Colony Lakshmi Nagar is Rs 4,950 per sq.ft, effective from 1 July 2024. This area is located in Porur village and falls under the Kunrathur Sub Registrar Office (SRO). The land classification for this street is Mixed Special Type - I.

How the guideline value of New colony lakshmi nagar has changed

The guideline value for New Colony Lakshmi Nagar has undergone several revisions over the years. The earliest recorded figure is from 2003, which was Rs 568 per sq.ft. This value increased significantly to Rs 1,000 per sq.ft in 2007, followed by a substantial rise to Rs 4,500 per sq.ft in 2012. However, there was a decrease to Rs 3,015 per sq.ft in 2017. The value then saw a notable increase to Rs 4,500 per sq.ft in 2023, and currently stands at Rs 4,950 per sq.ft as of the 2024 revision.

In terms of percentage changes, the guideline value increased by 10% from 2023 to 2024. There was a significant rise of 49% from 2017 to 2023. The value decreased by 33% from 2012 to 2017. The increase from 2007 to 2012 was a remarkable 350%, and from 2003 to 2007, the rise was 76%. Overall, from 2003 to 2024, the guideline value has increased by 771%. The register has no figure for this street in 2002.

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, with a median value of Rs 3,960 per sq.ft. The guideline value for New Colony Lakshmi Nagar is above this median.

Stamp duty and registration fee for property in New colony lakshmi nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value would be Rs 49,50,000. The stamp duty at 7% would amount to Rs 3,46,500, and the registration fee at 2% would be Rs 99,000. Together, the total cost would be Rs 4,45,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers New colony lakshmi nagar?

The New Colony Lakshmi Nagar area is covered by 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 during the registration of property transactions in Porur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

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

Frequently asked questions

What is the current guideline value of New Colony Lakshmi Nagar?

The current guideline value of New Colony Lakshmi Nagar is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 568 per sq.ft in 2003 to Rs 4,950 per sq.ft in 2024, reflecting various increases and a few decreases over the years.

What is the land classification for New Colony Lakshmi Nagar?

The land classification for New Colony Lakshmi Nagar is Mixed Special Type - I.

Where can I find the registration office for New Colony Lakshmi Nagar?

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

How is stamp duty calculated for properties in New Colony Lakshmi Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 3,46,500.