Guideline Value for Kollam Thottam

Kollam Thottam guideline value

The current guideline value of Kollam Thottam is Rs 1,700 per sq.ft, effective from 1 July 2024. This area is located in Sembiam village, under the Sembiam SRO, and is classified as Residential Class II Type - II.

How the guideline value of Kollam Thottam has changed

The guideline value for Kollam Thottam has seen several revisions over the years. In 2002, the value was Rs 275 per sq.ft, which increased to Rs 298 per sq.ft in 2003. Following this, there was a significant rise to Rs 700 per sq.ft in 2007, and it further jumped to Rs 1,600 per sq.ft in 2012. However, the value dropped to Rs 1,072 per sq.ft in 2017, before rising again to Rs 1,600 per sq.ft in 2023, and finally reaching Rs 1,700 per sq.ft in the 2024 revision.

Between the revisions, the changes were notable. From 2002 to 2024, there was an overall increase of 518%. The increase from 2017 to 2023 was 49%, while the value decreased by 33% from 2012 to 2017. The jump from 2007 to 2012 was 129%, and from 2003 to 2007, it increased by 135%. The change from 2023 to 2024 was +6%.

Guideline values in Sembiam

In Sembiam village, there are 250 streets under the Sembiam SRO, with 2024 guideline values ranging from Rs 1,700 to Rs 7,100 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, placing Kollam Thottam's 2024 figure below that median.

• K.K.R. Avenue: Rs 4,900 per sq.ft (2024)
• Kennady Square West Street: Rs 3,800 per sq.ft (2024)
• Kennady Square West Main Road: Rs 3,800 per sq.ft (2024)
• Kennady Square South Street: Rs 3,800 per sq.ft (2024)
• Kennady Square South Main Road: Rs 3,800 per sq.ft (2024)
• Kennady Square North Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Kollam Thottam

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty, charged at 7%, would be Rs 1,19,000, while the registration fee at 2% would be Rs 34,000. Together, the total cost for these fees would be Rs 1,53,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kollam Thottam?

Kollam Thottam is covered by the Sembiam Sub Registrar Office located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Sembiam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair price.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential costs involved in property transactions. Buyers should be aware of the current guideline value to ensure compliance with registration norms.

Frequently asked questions

What is the current guideline value of Kollam Thottam?

The current guideline value of Kollam Thottam is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 275 per sq.ft in 2002 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 518% over the years.

What are the stamp duty and registration fees for property in Kollam Thottam?

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Which office handles property registrations in Kollam Thottam?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, handles property registrations for Kollam Thottam.

What is the land classification of Kollam Thottam?

Kollam Thottam is classified as Residential Class II Type - II, indicating its designation for residential use within the Sembiam area.