Guideline Value for Makkaram Thottam 10th Street

Makkaram Thottam 10th Street guideline value

The current guideline value of Makkaram Thottam 10th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village, under the Sembiam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Makkaram Thottam 10th Street has changed

Over the years, the guideline value for Makkaram Thottam 10th Street has seen significant revisions. The earliest recorded value was Rs 700 per sq.ft in 2007, which increased to Rs 3,000 per sq.ft by 2012. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft. Following this, the value rose sharply to Rs 3,000 per sq.ft in 2023, and further increased to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

In summary, the changes in guideline value from 2007 to 2024 reflect an overall increase of 371%. Specifically, the value rose by 329% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then increased by 49% from 2017 to 2023. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. Makkaram Thottam 10th Street's 2024 guideline value aligns with this median.

• Makkaram Thottam 11th Street: Rs 3,300 per sq.ft (2024)
• Makkaram Thottam 12th Street: Rs 3,300 per sq.ft (2024)
• Makkaram Thottam 13th Street: Rs 3,300 per sq.ft (2024)
• Makkaram Thottam 1st Street: Rs 3,300 per sq.ft (2024)
• Makkaram Thottam 2nd Street: Rs 3,300 per sq.ft (2024)
• Makkaram Thottam 3rd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Makkaram Thottam 10th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. Please note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Makkaram Thottam 10th Street?

The Sub Registrar Office that covers Makkaram Thottam 10th Street is 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 Kolathur

The guideline value is an essential factor in the registration process when buying or selling property in Kolathur. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is recorded accurately.

When a property is registered, the guideline value helps in assessing the appropriate fees that need to be paid. Buyers and sellers must consider this value to ensure compliance with local regulations and to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Makkaram Thottam 10th Street?

The current guideline value of Makkaram Thottam 10th Street 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 significantly 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 registration fee for a property in Makkaram Thottam 10th Street?

The registration fee for a property in Makkaram Thottam 10th Street is calculated at 2% of the guideline value. For example, a property valued at Rs 33,00,000 would incur a registration fee of Rs 66,000.

Which office handles registrations for Makkaram Thottam 10th Street?

The Sembiam Sub Registrar Office handles registrations for Makkaram Thottam 10th Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for properties in Kolathur?

The stamp duty in Kolathur is charged at a rate of 7% on the higher of the guideline value or the sale price. This ensures that the transaction is valued appropriately for registration purposes.