Guideline Value for Makkaram Thottam 9th Street

Makkaram Thottam 9th Street guideline value

The current guideline value of Makkaram Thottam 9th 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 it falls under the Residential Class I Type - I land classification.

How the guideline value of Makkaram Thottam 9th Street has changed

The guideline value for Makkaram Thottam 9th Street has undergone several revisions over the years. In 2007, the guideline value was Rs 700 per sq.ft, which saw a significant increase to Rs 3,000 per sq.ft in both the 2012 and 2023 revisions. However, there was no recorded figure for this street in the 2017, 2003, and 2002 revisions.

With the latest revision in 2024, the guideline value has risen to Rs 3,300 per sq.ft, marking a 10% increase from the 2023 revision. 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, with 2024 guideline values 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 9th Street.

• Makkaram Thottam 8th Street: Rs 3,300 per sq.ft (2024)
• Makkaram Thottam 7th Street: Rs 3,300 per sq.ft (2024)
• Makkaram Thottam 6th Street: Rs 3,300 per sq.ft (2024)
• Makkaram Thottam 5th Street: Rs 3,300 per sq.ft (2024)
• Makkaram Thottam 4th Street: Rs 3,300 per sq.ft (2024)
• Makkaram Thottam 3rd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Makkaram Thottam 9th 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 and the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Makkaram Thottam 9th Street?

The Sub Registrar Office that covers Makkaram Thottam 9th 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 buying or selling property in Kolathur. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during transactions.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Makkaram Thottam 9th Street?

The current guideline value of Makkaram Thottam 9th 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 from Rs 700 per sq.ft to Rs 3,300 per sq.ft in 2024, marking an overall increase of 371%.

What were the guideline values in previous revisions?

The guideline values for Makkaram Thottam 9th Street were Rs 700 per sq.ft in 2007, Rs 3,000 per sq.ft in 2012 and 2023, and Rs 3,300 per sq.ft in 2024. There were no figures for the years 2017, 2003, and 2002.

Which Sub Registrar Office covers this street?

The Sembiam Sub Registrar Office covers Makkaram Thottam 9th Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for property transactions?

The 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 a rate of 7%.