Guideline Value for Thitty Thottam 1st Street

Thitty Thottam 1st Street guideline value

The current guideline value of Thitty Thottam 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Peravallur 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 Street has changed

Over the years, the guideline value of Thitty Thottam 1st Street has seen significant changes. The 2007 revision recorded a value of Rs 800 per sq.ft, which increased to Rs 2,500 per sq.ft in 2012, marking a substantial rise of 213%. However, from 2012 to 2017, the value decreased to Rs 1,675 per sq.ft, a decline of 33%. The value then increased again to Rs 2,500 per sq.ft in 2023, followed by a further rise to the current value of Rs 2,700 per sq.ft in 2024, reflecting an 8% increase.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. The overall increase from the 2007 revision to the current 2024 revision is 238%, showing a steady rise in the guideline value over the years.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO, with guideline values ranging from Rs 2,200 to Rs 7,100 per sq.ft as of 2024. The median guideline value for these streets is Rs 3,301 per sq.ft, placing Thitty Thottam 1st Street's 2024 figure below this median.

• Thitty Thottam 2nd Street: Rs 2,700 per sq.ft (2024)
• Thitty Thottam 3rd Street: Rs 2,700 per sq.ft (2024)
• Thitty Thottam 4th Street: Rs 2,700 per sq.ft (2024)
• Thitty Thottam Lakshmi Nagar: Rs 2,200 per sq.ft (2024)
• Thiyagarajan Street (Vetri Nagar): Rs 3,301 per sq.ft (2024)
• Thiru.Vi.Ka.Nagar: Rs 4,200 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, while the registration fee at 2% would be Rs 54,000. Together, the total cost for these fees would be Rs 2,43,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Thitty Thottam 1st Street?

The Sub Registrar Office that covers Thitty Thottam 1st 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 Peravallur

The guideline value plays a crucial role in property transactions in Peravallur. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees. It ensures that the fees are calculated based on a standard value set by the government, providing a uniform approach to property transactions.

When registering a property, buyers must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of Thitty Thottam 1st 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 registration office for Thitty Thottam 1st Street?

The registration office for Thitty Thottam 1st Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Thitty Thottam 1st Street?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 at 7%.

What are the other streets in Peravallur with similar guideline values?

Other streets in Peravallur, such as Thitty Thottam 2nd Street, 3rd Street, and 4th Street, also have a guideline value of Rs 2,700 per sq.ft as of 2024.