Guideline Value for Makkaram Thottam 2nd Street

Makkaram Thottam 2nd Street guideline value

The current guideline value of Makkaram Thottam 2nd 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. The land classification for this area is Residential Class I Type - I.

How the guideline value of Makkaram Thottam 2nd Street has changed

The guideline value for Makkaram Thottam 2nd Street has undergone several revisions over the years. In 2007, the guideline value was set at Rs 700 per sq.ft, which saw a significant increase to Rs 3,000 per sq.ft in the 2012 revision. This represents a remarkable increase of 329% over the five-year period. The most recent revision in 2024 raised the value to Rs 3,300 per sq.ft, marking a 10% increase from the 2012 figure.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 371%. It is important to note that there are no figures available for the years 2002, 2003, 2017, and 2023 for Makkaram Thottam 2nd Street in the register.

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. The median guideline value for these streets is Rs 3,300 per sq.ft, which means that the guideline value for Makkaram Thottam 2nd Street aligns perfectly with this median.

• Makkaram Thottam 1st Street: Rs 3,300 per sq.ft (2024)
• Makkaram Thottam 3rd Street: Rs 3,300 per sq.ft (2024)
• Makkaram Thottam 13th Street: Rs 3,300 per sq.ft (2024)
• Makkaram Thottam 4th Street: Rs 3,300 per sq.ft (2024)
• Makkaram Thottam 12th Street: Rs 3,300 per sq.ft (2024)
• Makkaram Thottam 5th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Makkaram Thottam 2nd 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, while the registration fee at 2% would be Rs 66,000, bringing the total 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Makkaram Thottam 2nd Street?

The Sub Registrar Office that covers Makkaram Thottam 2nd 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 a crucial factor when it comes to the registration of property transactions in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold, the guideline value is used to assess the applicable duties, ensuring that both the buyer and seller are aware of the financial implications of the transaction. This process helps maintain transparency and standardization in property dealings.

Frequently asked questions

What is the current guideline value of Makkaram Thottam 2nd Street?

The current guideline value of Makkaram Thottam 2nd 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, marking an overall increase of 371% over this period.

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

Other streets in Kolathur that share the same guideline value of Rs 3,300 per sq.ft include Makkaram Thottam 1st Street, 3rd Street, 4th Street, 5th Street, 12th Street, and 13th Street.

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 2nd Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would amount to Rs 2,31,000.