Guideline Value for Makkaram Thottam 1st Street

Makkaram Thottam 1st Street guideline value

The current guideline value of Makkaram Thottam 1st 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 1st Street has changed

The guideline value for Makkaram Thottam 1st Street has seen several revisions over the years. In 2007, the guideline value was Rs 700 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in the 2012 revision, marking a rise of 329%. The latest revision in 2024 set the value at Rs 3,300 per sq.ft, reflecting a 10% increase from the 2012 figure.

Notably, there are no figures available for the years 2002, 2003, 2017, and 2023 for this street. Overall, from 2007 to 2024, the guideline value has increased by 371%.

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 the median value being Rs 3,300 per sq.ft. Makkaram Thottam 1st Street's guideline value aligns with this median.

• Makkaram Thottam 13th Street: Rs 3,300 per sq.ft (2024)
• Makkaram Thottam 2nd Street: Rs 3,300 per sq.ft (2024)
• Makkaram Thottam 12th Street: Rs 3,300 per sq.ft (2024)
• Makkaram Thottam 3rd Street: Rs 3,300 per sq.ft (2024)
• Makkaram Thottam 11th Street: Rs 3,300 per sq.ft (2024)
• Makkaram Thottam 4th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Makkaram Thottam 1st 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, bringing the total fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Makkaram Thottam 1st Street?

The Sub Registrar Office that covers Makkaram Thottam 1st 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 in property transactions in Kolathur, as it determines the minimum price at which properties can be registered. When a property is sold, the guideline value is used to calculate the stamp duty and registration fees that need to be paid at the time of registration.

Frequently asked questions

What is the current guideline value of Makkaram Thottam 1st Street?

The current guideline value of Makkaram Thottam 1st 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 increased from Rs 700 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, which is a total increase of 371% over the years.

What is the stamp duty rate for properties in Makkaram Thottam 1st Street?

The stamp duty for properties in Makkaram Thottam 1st Street is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.

Which office handles property registrations for Makkaram Thottam 1st Street?

The Sembiam Sub Registrar Office handles property registrations for Makkaram Thottam 1st Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

Are there other streets with the same guideline value in Kolathur?

Yes, several other streets in Kolathur have the same guideline value of Rs 3,300 per sq.ft, including Makkaram Thottam 2nd Street, 3rd Street, 4th Street, 11th Street, 12th Street, and 13th Street.