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 Sembiam village and falls under the Sembiam SRO, classified as Residential Class I Type - I.

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

The guideline value for Thitty Thottam 1st Street has seen significant changes over the years. In the 2007 revision, the rate was Rs 800 per sq.ft, which increased dramatically to Rs 2,500 per sq.ft in 2012, marking a rise of 213%. However, it then decreased to Rs 1,675 per sq.ft in 2017, a drop of 33%. The value continued to rise, reaching Rs 2,500 per sq.ft in 2023, and further increased to Rs 2,700 per sq.ft in the 2024 revision, reflecting an 8% increase.

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, with the median being Rs 2,700 per sq.ft. Thitty Thottam 1st Street's 2024 figure aligns with this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty, charged at 7%, would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. Please note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

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 details.

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

The guideline value is a crucial factor when registering property transactions in Sembiam. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, it is essential to be aware of the guideline value, as it may affect the overall costs involved in the transaction. Buyers should consider the guideline value to understand their financial obligations during the registration process.

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 significantly, from Rs 800 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024. The most notable increase occurred between 2007 and 2012, where it rose by 213%.

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

Thitty Thottam 1st Street is classified as Residential Class I Type - I. This classification is important for determining the permitted uses of the land.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles registrations for properties in the Sembiam area.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 27,00,000, the stamp duty would be 7% of that amount.