Guideline Value for Thitty Thottam 3rd Street

Thitty Thottam 3rd Street guideline value

The current guideline value of Thitty Thottam 3rd Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village, under the Sembiam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Thitty Thottam 3rd Street has changed

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

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

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. The median value for these streets is Rs 3,301 per sq.ft, indicating that Thitty Thottam 3rd Street's 2024 figure is below this median.

• Thitty Thottam 2nd Street: Rs 2,700 per sq.ft (2024)
• Thitty Thottam 4th Street: Rs 2,700 per sq.ft (2024)
• Thitty Thottam 1st 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 3rd 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, resulting in a total of Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more accurate estimates.

Which Sub Registrar Office covers Thitty Thottam 3rd Street?

The Sub Registrar Office that covers Thitty Thottam 3rd 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 during property transactions in Peravallur. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. This ensures that the government receives the appropriate revenue from property transactions based on the officially assessed value of the property.

When a buyer or seller engages in a transaction, the guideline value serves as a benchmark for the transaction price. If the sale price is higher than the guideline value, the stamp duty is calculated based on the sale price to ensure proper taxation.

Frequently asked questions

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

The current guideline value of Thitty Thottam 3rd 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, marking an overall increase of 238%.

What are the stamp duty and registration fees for properties in Thitty Thottam 3rd Street?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which office handles registrations for Thitty Thottam 3rd Street?

The Sembiam Sub Registrar Office at 5, Papermills Road, Sembiam, Chennai - 600011 handles registrations for Thitty Thottam 3rd Street.

What is the median guideline value in Peravallur?

The median guideline value for streets in Peravallur is Rs 3,301 per sq.ft, indicating that Thitty Thottam 3rd Street's current value is below this median.