Guideline Value for KRISHNAPILLAI THOTAM

Krishnapillai Thotam guideline value

The current guideline value for Krishnapillai Thotam is Rs 3,850 per sq.ft, effective from 1 July 2024. This area falls under the Government farm village and is classified as Residential Class IV Type - II. The relevant registration office is the Chennai South Joint I SRO.

How the guideline value of Krishnapillai Thotam has changed

The guideline value for Krishnapillai Thotam has seen several revisions over the years. In 2012, the value was Rs 3,500 per sq.ft, which decreased to Rs 2,345 per sq.ft in 2017. The value then increased significantly to Rs 3,500 per sq.ft in 2023, followed by a further increase to Rs 3,850 per sq.ft in 2024.

From 2017 to 2023, there was a notable increase of 49%. The 2023 to 2024 revision saw an increase of 10%. 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 Government farm

In Government farm, the guideline values for 35 streets under the Chennai South Joint I SRO range 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 for Krishnapillai Thotam is below this median.

• Krishnapillai Thotam 1st Street: Rs 3,850 per sq.ft (2024)
• Krishnapillai Thotam 2nd Street: 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

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, totaling Rs 3,46,500. The 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 Krishnapillai Thotam?

The Sub Registrar Office that covers Krishnapillai Thotam 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 in property transactions, as it determines the minimum value at which a property can be registered. Buyers and sellers must be aware of the guideline value to ensure they are compliant with registration requirements.

When a property is sold, the registration fee and stamp duty are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Krishnapillai Thotam?

The current guideline value of Krishnapillai Thotam 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 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then increased to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,850 per sq.ft in 2024.

What is the land classification of Krishnapillai Thotam?

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

Where can I find the registration office for Krishnapillai Thotam?

The registration office for Krishnapillai Thotam 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 Krishnapillai Thotam?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.