Guideline Value for Kittu Thottam (Ward-7)

Kittu Thottam (Ward-7) guideline value

The current guideline value of Kittu Thottam (Ward-7) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this street is Residential Class III Type - I.

How the guideline value of Kittu Thottam (Ward-7) has changed

In the 2012 revision, the guideline value was Rs 1,200 per sq.ft. This figure decreased to Rs 804 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value significantly increased by 49% to reach Rs 1,200 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 1,300 per sq.ft, reflecting an 8% rise from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Madhavaram

Madhavaram village has a total of 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, placing Kittu Thottam (Ward-7) below this median.

• K.K. Nagar: Rs 2,200 per sq.ft (2024)
• Kilburn Nagar (Ward-11): Rs 1,600 per sq.ft (2024)
• Kilburn Nagar Roads (Ward No.11): Rs 1,600 per sq.ft (2024)
• Kilbarns Nagar Extension: Rs 1,600 per sq.ft (2024)
• Kilbarns Nagar: Rs 1,600 per sq.ft (2024)
• KGL Nagar (Ward-30): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kittu Thottam (Ward-7)

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 amount to Rs 91,000, while the registration fee at 2% would be Rs 26,000, resulting in a total of Rs 1,17,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kittu Thottam (Ward-7)?

The Sub Registrar Office that covers Kittu Thottam (Ward-7) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Madhavaram. It serves as the minimum value for calculating stamp duty and registration fees, ensuring that all transactions are recorded at a fair value.

When a property is sold, the guideline value helps determine the official value of the property for tax purposes. This value is used to calculate the applicable fees, which are essential for completing the registration process at the Madhavaram SRO.

Frequently asked questions

What is the current guideline value of Kittu Thottam (Ward-7)?

The current guideline value of Kittu Thottam (Ward-7) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes: from Rs 1,200 per sq.ft in 2012, it dropped to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the stamp duty for property in Kittu Thottam (Ward-7)?

The stamp duty for property in Kittu Thottam (Ward-7) is 7% of the guideline value or sale price, whichever is higher. For example, a property valued at Rs 13,00,000 would incur a stamp duty of Rs 91,000.

Where is the Sub Registrar Office for Kittu Thottam (Ward-7)?

The Sub Registrar Office for Kittu Thottam (Ward-7) is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification for Kittu Thottam (Ward-7)?

The land classification for Kittu Thottam (Ward-7) is Residential Class III Type - I, indicating its designated use for residential purposes.