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 Sembiam village under the Sembiam Sub Registrar Office (SRO) in Chennai, Tamil Nadu. The land classification for this area is 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 guideline value was Rs 800 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a rise of 213%. However, between 2012 and 2017, the value decreased to Rs 1,675 per sq.ft, a decline of 33%. The value then rose again to Rs 2,500 per sq.ft in 2023, reflecting a substantial increase of 49% from the previous figure. The most recent revision in 2024 set the guideline value at Rs 2,700 per sq.ft, an increase of 8% from 2023.

It is important to note that there are no figures available for the years 2002 and 2003 in the register 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 with a 2024 guideline value ranging from Rs 1,700 to Rs 7,100 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, which is the same as the guideline value for Thitty Thottam 3rd Street. Below are other streets in Sembiam with their respective guideline values:

• Thitty Thottam 4th Cross Street: Rs 2,700 per sq.ft (2024)
• Thitty Thottam 3rd Cross Street: Rs 2,700 per sq.ft (2024)
• Thitty Thottam 2nd Street: Rs 2,700 per sq.ft (2024)
• Thitty Thottam 4th Street: Rs 2,700 per sq.ft (2024)
• Thitty Thottam 5th Cross Street: Rs 2,700 per sq.ft (2024)
• Thitty Thottam 2nd Cross Street: Rs 2,700 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 rate of Rs 2,700 per sq.ft, the guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling 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 use the stamp duty and registration fee calculator for more details.

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 Sembiam

The guideline value is a crucial factor in the registration process for property transactions in Sembiam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair value of the property. Buyers should be aware that the stamp duty and registration fees are based on the guideline value or the sale price, whichever is higher, making it essential to consider this when negotiating property transactions.

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 from Rs 800 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting a total increase of 238% over the years.

What are the stamp duty and registration fees for properties in this area?

For a 1,000 sq.ft property, the total stamp duty and registration fees would amount to Rs 2,43,000 based on the current guideline value.

Which office handles the registration for Thitty Thottam 3rd Street?

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

What is the land classification for Thitty Thottam 3rd Street?

The land classification for Thitty Thottam 3rd Street is Residential Class I Type - I.