Guideline Value for Thitty Thottam 2nd Street

Thitty Thottam 2nd Street guideline value

The current guideline value of Thitty Thottam 2nd Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village, under the Sembiam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Thitty Thottam 2nd Street has changed

The guideline value for Thitty Thottam 2nd Street has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 800 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, there was a decrease to Rs 1,675 per sq.ft in 2017. The value then rose to Rs 2,500 per sq.ft in 2023, and the latest revision in 2024 set the value at Rs 2,700 per sq.ft, marking an 8% increase from the previous year.

Looking at the changes, from 2017 to 2023, the guideline value increased by 49%. The jump from 2012 to 2017 reflected a decrease of 33%, while the increase from 2007 to 2012 was substantial at 213%. Overall, from 2007 to 2024, the guideline value has increased by 238%. The register has no figures for the years 2002 and 2003 for this street.

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 guideline value for these streets is Rs 2,700 per sq.ft, which is the same as the current value for Thitty Thottam 2nd Street.

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

Stamp duty and registration fee for property in Thitty Thottam 2nd 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, while the registration fee at 2% would be Rs 54,000. Together, the total cost for stamp duty and registration fee would be Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Thitty Thottam 2nd Street?

The Sub Registrar Office that covers Thitty Thottam 2nd 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 plays a crucial role in the registration process when buying or selling property in Sembiam. It serves as a reference point for determining the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

When a property transaction occurs, the guideline value ensures that the government receives the appropriate revenue from stamp duty. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Thitty Thottam 2nd Street?

The current guideline value of Thitty Thottam 2nd 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 several times, starting from Rs 800 per sq.ft in 2007, rising to Rs 2,500 per sq.ft in 2012, then decreasing to Rs 1,675 per sq.ft in 2017, and increasing again to Rs 2,500 per sq.ft in 2023, finally reaching Rs 2,700 per sq.ft in 2024.

What are the other streets in Sembiam with the same guideline value?

Several other streets in Sembiam have the same guideline value of Rs 2,700 per sq.ft for 2024, including Thitty Thottam 1st Street, Thitty Thottam 2nd Cross Street, and Thitty Thottam 3rd Cross Street.

What is the registration office for Thitty Thottam 2nd Street?

The registration office for Thitty Thottam 2nd Street is the Sembiam Sub Registrar Office, 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 guideline value or the sale price, whichever is higher. The current rate for stamp duty is 7%, and the registration fee is 2% of the guideline value.