Guideline Value for Makkaram Thottam 3rd Street

Makkaram Thottam 3rd Street guideline value

The current guideline value of Makkaram Thottam 3rd 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 3rd Street has changed

The guideline value for Makkaram Thottam 3rd Street has seen significant changes over the years. In the 2007 revision, the guideline value was Rs 700 per sq.ft. It increased dramatically to Rs 3,000 per sq.ft in the 2012 revision, marking a 329% rise. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, which is a 10% increase from the 2012 figure.

There are no recorded figures for Makkaram Thottam 3rd Street in the revisions of 2023, 2017, 2003, and 2002. 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. The median guideline value is Rs 3,300 per sq.ft, which is equal to the 2024 figure for Makkaram Thottam 3rd Street.

• Makkaram Thottam 2nd Street: Rs 3,300 per sq.ft (2024)
• Makkaram Thottam 4th Street: Rs 3,300 per sq.ft (2024)
• Makkaram Thottam 1st Street: Rs 3,300 per sq.ft (2024)
• Makkaram Thottam 5th Street: Rs 3,300 per sq.ft (2024)
• Makkaram Thottam 13th Street: Rs 3,300 per sq.ft (2024)
• Makkaram Thottam 6th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Makkaram Thottam 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost 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 3rd Street?

The Sub Registrar Office that covers Makkaram Thottam 3rd 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 the registration process when buying or selling property in Kolathur. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair price.

When a buyer approaches the registration office, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both the buyer and seller are aware of the costs involved in the transaction.

Frequently asked questions

What is the current guideline value of Makkaram Thottam 3rd Street?

The current guideline value of Makkaram Thottam 3rd 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, showing an overall increase of 371%.

What is the land classification for Makkaram Thottam 3rd Street?

The land classification for Makkaram Thottam 3rd Street is Residential Class I Type - I.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Kolathur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at 7%.