Guideline Value for Krishnappa lane

Krishnappa lane guideline value

The current guideline value of Krishnappa lane is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Chindadripet village under the Periamet SRO, classified as Residential Class III Type - I.

How the guideline value of Krishnappa lane has changed

The guideline value of Krishnappa lane has seen several revisions over the years. The 2007 revision set the value at Rs 700 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in the 2012 revision. However, this figure dropped to Rs 2,010 per sq.ft in 2017. The 2023 revision raised it to Rs 3,000 per sq.ft, and the latest revision in 2024 has increased it further to Rs 3,300 per sq.ft, marking a 10% rise from the previous year.

In summary, from 2007 to 2024, the guideline value has increased by 371%. The changes between revisions include a 329% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, and a 49% increase from 2017 to 2023.

Guideline values in Chindadripet

In Chindadripet, there are 98 streets under the Periamet SRO with a 2024 guideline value ranging from Rs 2,500 to Rs 18,100 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the current guideline value of Krishnappa lane.

• Krishnappa Chetty Street: Rs 4,400 per sq.ft (2024)
• Krishna chetty street: Rs 4,400 per sq.ft (2024)
• Kovur Vaidyanathan street: Rs 2,600 per sq.ft (2024)
• Kovilur Amman West street: Rs 2,600 per sq.ft (2024)
• Kovilur Amman South Street: Rs 2,600 per sq.ft (2024)
• Kovilur Amman North street: Rs 2,600 per sq.ft (2024)

Stamp duty and registration fee for property in Krishnappa lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 detailed calculations.

Which Sub Registrar Office covers Krishnappa lane?

The Sub Registrar Office that covers Krishnappa lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Chindadripet. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the property is registered at a fair value.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Krishnappa lane?

The current guideline value of Krishnappa lane is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 371% over the years.

What is the stamp duty for property in Krishnappa lane?

The stamp duty for property in Krishnappa lane is calculated at 7% of the guideline value, which amounts to Rs 2,31,000 for a 1,000 sq.ft plot at the current rate.

Which office handles property registrations for Krishnappa lane?

The Periamet Sub Registrar Office handles property registrations for Krishnappa lane, located at 1103, Poonamallee High Road, Chennai-600 003.

What is the land classification of Krishnappa lane?

Krishnappa lane is classified as Residential Class III Type - I under the guideline value register.