Guideline Value for SHAMUGA THOTTAM STREET

Shamuga Thottam Street guideline value

The current guideline value of Shamuga Thottam Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Thiruvottiyur village, under the Thiruvottiyur SRO, and is classified as Residential Special Type - I.

How the guideline value of Shamuga Thottam Street has changed

The guideline value of Shamuga Thottam Street has undergone several revisions over the years. In 2007, the guideline value was Rs 500 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 500% increase. However, this value decreased to Rs 2,010 per sq.ft in 2017, reflecting a decline of 33%. The value then rose to Rs 3,000 per sq.ft in 2023, before reaching the current figure of Rs 3,300 per sq.ft in 2024, a 10% increase from the previous year.

There are no figures available for Shamuga Thottam Street in the 2002 and 2003 revisions. Overall, from 2007 to 2024, the guideline value has increased by 560%, showcasing significant changes in the valuation over the years.

Guideline values in Thiruvottiyur

In Thiruvottiyur, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 1,300 to Rs 8,600 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which is equal to the current value of Shamuga Thottam Street.

• Shanmuganar Nagar: Rs 1,500 per sq.ft (2024)
• Shanmugapuram: Rs 1,500 per sq.ft (2024)
• SHANMUGAPURAM Extension: Rs 1,500 per sq.ft (2024)
• Selvavinayagar Koil Street: Rs 1,900 per sq.ft (2024)
• Shri Nagar: Rs 3,700 per sq.ft (2024)
• Sivagangapuram: Rs 2,150 per sq.ft (2024)

Stamp duty and registration fee for property in Shamuga Thottam 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 to Rs 2,97,000. It is important to note that 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 Shamuga Thottam Street?

The Sub Registrar Office that covers Shamuga Thottam Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Thiruvottiyur

The guideline value is a crucial factor in the registration of property transactions in Thiruvottiyur. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair valuation of the property. It is essential to refer to the latest guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Shamuga Thottam Street?

The current guideline value of Shamuga Thottam 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 500 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 560% over the years.

What is the stamp duty rate for properties in Shamuga Thottam Street?

The stamp duty rate for properties in Shamuga Thottam Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Shamuga Thottam Street located?

The Sub Registrar Office for Shamuga Thottam Street is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the land classification for Shamuga Thottam Street?

Shamuga Thottam Street is classified as Residential Special Type - I, which indicates its designated use for residential purposes.