Guideline Value for K.M. Thottam

K.M. Thottam guideline value

The current guideline value of K.M. Thottam is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of K.M. Thottam has changed

In the 2012 revision, the guideline value was Rs 1,200 per sq.ft. The current revision for 2024 shows an increase of 8%, bringing the value to Rs 1,300 per sq.ft. The register has no figures for the years 2002, 2003, 2007, 2017, and 2023 for this street.

Thus, the only two revisions with figures for K.M. Thottam are from 2012 and 2024, reflecting a notable change in the guideline value over the years.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO with 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, making K.M. Thottam's current value below this median.

• K.K.Thazhai Main Rd (Ward No.2): Rs 1,600 per sq.ft (2024)
• K.K.Thazhai Cross Streets (Ward No.3): Rs 1,300 per sq.ft (2024)
• K.K.R.Nagar (Ward No.18): Rs 2,200 per sq.ft (2024)
• KKR Nagar (Ward-18): Rs 2,200 per sq.ft (2024)
• K.K.R.Nagar Extn. (Ward No.18): Rs 2,200 per sq.ft (2024)
• Kohinoor 1st Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in K.M. Thottam

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees together to Rs 1,17,000. Duty is charged on the guideline value or the sale price, whichever is higher.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers K.M. Thottam?

The K.M. Thottam area is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a critical factor during the registration of property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the actual sale price must be compared with the guideline value. The higher of the two will be used to calculate the applicable stamp duty and registration fees, which are essential for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of K.M. Thottam?

The current guideline value of K.M. Thottam is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 1,200 per sq.ft in 2012 to Rs 1,300 per sq.ft in 2024, reflecting an 8% increase. There are no figures available for the years 2002, 2003, 2007, 2017, and 2023 for this street.

What is the median guideline value in Madhavaram?

The median guideline value for streets in Madhavaram is Rs 1,600 per sq.ft. K.M. Thottam's guideline value of Rs 1,300 per sq.ft is below this median.

What are the stamp duty and registration fees for K.M. Thottam?

The stamp duty for a property valued at Rs 13,00,000 would be Rs 91,000, and the registration fee would be Rs 26,000, totaling Rs 1,17,000. These fees are calculated based on the higher of the guideline value or the sale price.

Which office handles registrations for K.M. Thottam?

The Madhavaram Sub Registrar Office handles registrations for K.M. Thottam, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.