Guideline Value for KRISHNAPILLAI THOTAM 2ND STREET

Krishnapillai Thotam 2nd Street guideline value

The current guideline value of Krishnapillai Thotam 2nd Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Government farm village, under the Chennai South Joint I SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Krishnapillai Thotam 2nd Street has changed

The guideline value for Krishnapillai Thotam 2nd Street has undergone several revisions over the years. In 2002, the value was Rs 755 per sq.ft, which increased to Rs 853 per sq.ft in 2003, marking a change of +13%. The value then saw a significant rise to Rs 2,000 per sq.ft in 2007, reflecting an increase of +134%. Following this, the value was revised to Rs 3,500 per sq.ft in 2012, which was a +75% increase. However, from 2012 to 2017, the value decreased to Rs 2,345 per sq.ft, showing a decline of -33%. The value then rose to Rs 3,500 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 3,850 per sq.ft, an increase of +10%.

Overall, from 2002 to 2024, the guideline value for Krishnapillai Thotam 2nd Street has increased by +410%. There are no figures available for the revisions in years other than those specified.

Guideline values in Government farm

In Government farm village, there are 35 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 3,850 to Rs 15,400 per sq.ft, with a median value of Rs 8,250 per sq.ft. The guideline value of Krishnapillai Thotam 2nd Street is below this median.

• Krishnapillai Thotam 1st Street: Rs 3,850 per sq.ft (2024)
• Krishnapillai Thotam: Rs 3,850 per sq.ft (2024)
• Link Road: Rs 4,400 per sq.ft (2024)
• Loop Street ( Annasalai): Rs 11,000 per sq.ft (2024)
• Lotus Colony (Nandanam): Rs 5,830 per sq.ft (2024)
• Jones Road: Rs 8,250 per sq.ft (2024)

Stamp duty and registration fee for property in Krishnapillai Thotam 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total cost for these fees to Rs 3,46,500. It is important to note that 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 Krishnapillai Thotam 2nd Street?

The Sub Registrar Office that covers Krishnapillai Thotam 2nd Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Government farm. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two amounts 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 for Krishnapillai Thotam 2nd Street?

The current guideline value for Krishnapillai Thotam 2nd Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 755 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, marking an overall increase of +410% over the years.

What is the land classification for Krishnapillai Thotam 2nd Street?

Krishnapillai Thotam 2nd Street is classified as Residential Class IV Type - II.

Where can I find the registration office for this street?

The registration office for Krishnapillai Thotam 2nd Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 38,50,000, the stamp duty would be calculated accordingly.