Guideline Value for Makkaram Thottam 11th Street

Makkaram Thottam 11th Street guideline value

The current guideline value for Makkaram Thottam 11th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village and falls under the Sembiam SRO, classified as Residential Class I Type - I.

How the guideline value of Makkaram Thottam 11th Street has changed

The guideline value for Makkaram Thottam 11th Street has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 700 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a 329% rise. However, in 2017, the value decreased to Rs 2,010 per sq.ft, a drop of 33%. The guideline value then rose again to Rs 3,000 per sq.ft in 2023, which was a 49% increase from the previous revision. The latest revision in 2024 has set the value at Rs 3,300 per sq.ft, reflecting a 10% increase from 2023.

The register does not have figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 371%.

Guideline values in Kolathur

Kolathur village has a total of 879 streets under the Sembiam SRO, with a 2024 guideline value range from Rs 2,200 to Rs 6,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which is equal to the current guideline value for Makkaram Thottam 11th Street.

• Makkaram Thottam 10th 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 11th 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. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Makkaram Thottam 11th Street?

The Sub Registrar Office that covers Makkaram Thottam 11th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value is a crucial factor during property registration in Kolathur. 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 property transactions.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, which can significantly affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value for Makkaram Thottam 11th Street?

The current guideline value for Makkaram Thottam 11th 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 from Rs 700 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 371% over the years.

What are the other streets in Kolathur with the same guideline value?

Other streets in Kolathur with the same guideline value of Rs 3,300 per sq.ft in 2024 include Makkaram Thottam 10th, 12th, 13th, 1st, 2nd, and 3rd Streets.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles the registration of properties in the area.

How is stamp duty calculated for properties in Makkaram Thottam 11th Street?

Stamp duty for properties in Makkaram Thottam 11th Street is calculated at 7% of the guideline value or sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.