Guideline Value for Thitty Thottam 1st Cross Street

Thitty Thottam 1st Cross Street guideline value

The current guideline value of Thitty Thottam 1st Cross Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village and falls under the Sembiam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Thitty Thottam 1st Cross Street has changed

The guideline value for Thitty Thottam 1st Cross Street has seen several revisions over the years. In 2007, the value was set at Rs 800 per sq.ft. It increased significantly to Rs 2,500 per sq.ft in 2012, marking a rise of 213%. However, the value decreased to Rs 1,675 per sq.ft in 2017, which was a reduction of 33%. The guideline value then rose sharply to Rs 2,500 per sq.ft in 2023, followed by another increase to Rs 2,700 per sq.ft in 2024, reflecting an 8% change.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 238%.

Guideline values in Sembiam

In Sembiam, there are 250 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 7,100 per sq.ft. The median value is Rs 2,700 per sq.ft, which is equal to the guideline value of Thitty Thottam 1st Cross Street.

• Thitty Thottam 1st Street: Rs 2,700 per sq.ft (2024)
• Thitty Thottam 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Thitty Thottam 2nd Street: Rs 2,700 per sq.ft (2024)
• Thitty Thottam 3rd Cross Street: Rs 2,700 per sq.ft (2024)
• Thitty Thottam 3rd Street: Rs 2,700 per sq.ft (2024)
• Thitty Thottam 4th Cross Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Thitty Thottam 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000. Together, the total charges would be Rs 2,43,000. It is important to note that the stamp 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 details.

Which Sub Registrar Office covers Thitty Thottam 1st Cross Street?

The Sub Registrar Office that covers Thitty Thottam 1st Cross 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 Sembiam

The guideline value plays a crucial role in the registration process when buying or selling property in Sembiam. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated fairly based on the property's value.

When a property is registered, the guideline value is used to assess the applicable charges. Buyers and sellers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, which may affect the overall costs involved in the transaction.

Frequently asked questions

What is the current guideline value of Thitty Thottam 1st Cross Street?

The current guideline value of Thitty Thottam 1st Cross Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 238% over the years.

What is the land classification for Thitty Thottam 1st Cross Street?

The land classification for Thitty Thottam 1st Cross Street is Residential Class I Type - I.

Where can I find the Sembiam Sub Registrar Office?

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

How is stamp duty calculated for properties in Sembiam?

Stamp duty for properties in Sembiam is calculated based on the higher of the guideline value or the sale price. The current rate is 7% for stamp duty and 2% for the registration fee.