Guideline Value for Thitty Thottam 3rd Cross Street

Thitty Thottam 3rd Cross Street guideline value

The current guideline value of Thitty Thottam 3rd 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 3rd Cross Street has changed

The guideline value for Thitty Thottam 3rd Cross Street has undergone several revisions over the years. In 2007, the guideline value was Rs 800 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, representing a 213% rise. However, it then decreased to Rs 1,675 per sq.ft in 2017, marking a decline of 33% from the previous revision. The guideline value saw a substantial increase to Rs 2,500 per sq.ft in 2023, reflecting a 49% rise. The most recent revision in 2024 set the guideline value at Rs 2,700 per sq.ft, which is an 8% increase from the previous year.

It is important to note that the register has no figures for the years 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 guideline value for these streets is Rs 2,700 per sq.ft, which matches the 2024 figure for Thitty Thottam 3rd Cross Street.

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

Stamp duty and registration fee for property in Thitty Thottam 3rd 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 amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, making the total cost for these fees Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Thitty Thottam 3rd Cross Street?

The Sub Registrar Office that covers Thitty Thottam 3rd Cross Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. For more information, you can find your SRO.

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

The guideline value is a crucial factor when registering property in Sembiam, as it determines the amount of stamp duty and registration fees payable. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the transaction process.

When a property is sold, the guideline value serves as a benchmark for calculating the necessary fees. It is essential to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Thitty Thottam 3rd Cross Street?

The current guideline value of Thitty Thottam 3rd 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 stamp duty rate for properties in Thitty Thottam 3rd Cross Street?

The stamp duty rate for properties in Thitty Thottam 3rd Cross Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Thitty Thottam 3rd Cross Street?

The Sub Registrar Office for Thitty Thottam 3rd Cross Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What does the guideline value indicate?

The guideline value indicates the minimum value at which properties are assessed for registration purposes. It is used to calculate stamp duty and registration fees when buying or selling property in the area.