Guideline Value for Makkaram Thottam 5th Street

Makkaram Thottam 5th Street guideline value

The current guideline value of Makkaram Thottam 5th 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 5th Street has changed

The guideline value for Makkaram Thottam 5th 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 2012, marking a change of +329%. The latest revision in 2024 raised the value to Rs 3,300 per sq.ft, reflecting a +10% increase from the 2012 figure.

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. The median guideline value for these streets is Rs 3,300 per sq.ft, which is the same as the 2024 figure for Makkaram Thottam 5th Street.

• Makkaram Thottam 4th Street: Rs 3,300 per sq.ft (2024)
• Makkaram Thottam 6th Street: Rs 3,300 per sq.ft (2024)
• Makkaram Thottam 3rd Street: Rs 3,300 per sq.ft (2024)
• Makkaram Thottam 7th Street: Rs 3,300 per sq.ft (2024)
• Makkaram Thottam 2nd Street: Rs 3,300 per sq.ft (2024)
• Makkaram Thottam 8th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Makkaram Thottam 5th 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, totaling 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.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Makkaram Thottam 5th Street?

The Sub Registrar Office that covers Makkaram Thottam 5th 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 registering property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be sold or bought, ensuring that the registration reflects a fair value in accordance with government regulations.

When you purchase or sell property, the guideline value is used to calculate the stamp duty and registration fees. This helps maintain transparency and accountability in property transactions, safeguarding the interests of both buyers and sellers.

Frequently asked questions

What is the current guideline value of Makkaram Thottam 5th Street?

The current guideline value of Makkaram Thottam 5th 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, reflecting an overall increase of +371% over the years.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a total fee of Rs 2,97,000.

Which office handles property registration for Makkaram Thottam 5th Street?

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

What is the land classification for Makkaram Thottam 5th Street?

The land classification for Makkaram Thottam 5th Street is Residential Class I Type - I, indicating its suitability for residential development.