Guideline Value for Makkaram Thottam 6th Street

Makkaram Thottam 6th Street guideline value

The current guideline value of Makkaram Thottam 6th 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 6th Street has changed

The guideline value for Makkaram Thottam 6th Street has undergone several revisions over the years. The earliest recorded value was Rs 700 per sq.ft in 2007, which significantly increased to Rs 3,000 per sq.ft in 2012, marking a rise of 329%. However, this value dropped to Rs 2,010 per sq.ft in 2017, a decrease of 33%. The latest revision in 2024 has set the guideline value at Rs 3,300 per sq.ft, representing an increase of 64% from the 2017 figure.

It is notable that there are no figures available for the years 2023, 2003, and 2002 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 aligns with the current value for Makkaram Thottam 6th Street.

• Makkaram Thottam 5th Street: Rs 3,300 per sq.ft (2024)
• Makkaram Thottam 7th Street: Rs 3,300 per sq.ft (2024)
• Makkaram Thottam 4th Street: Rs 3,300 per sq.ft (2024)
• Makkaram Thottam 8th Street: Rs 3,300 per sq.ft (2024)
• Makkaram Thottam 3rd Street: Rs 3,300 per sq.ft (2024)
• Makkaram Thottam 9th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Makkaram Thottam 6th 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 together 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.

You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Makkaram Thottam 6th Street?

The Sub Registrar Office that covers Makkaram Thottam 6th 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 plays a crucial role during the registration of property transactions in Kolathur. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is referenced to ensure that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. Buyers and sellers should be aware of the current guideline values to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Makkaram Thottam 6th Street?

The current guideline value of Makkaram Thottam 6th Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2007?

Since 2007, the guideline value has increased by 371%, rising from Rs 700 per sq.ft to Rs 3,300 per sq.ft in 2024.

What were the guideline values in previous revisions?

The guideline values for Makkaram Thottam 6th Street in previous revisions were Rs 700 per sq.ft in 2007, Rs 3,000 per sq.ft in 2012, and Rs 2,010 per sq.ft in 2017.

Which Sub Registrar Office handles registrations for this street?

The Sembiam Sub Registrar Office handles registrations for Makkaram Thottam 6th Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Kolathur?

Stamp duty for properties in Kolathur is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the correct fees are paid during the registration process.