Guideline Value for Thitty Thottam 4th Cross Street

Thitty Thottam 4th Cross Street guideline value

The current guideline value of Thitty Thottam 4th Cross 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 4th Cross Street has changed

The guideline value for Thitty Thottam 4th Cross 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, a decline of 33%. The value then increased to Rs 2,500 per sq.ft in 2023, and further rose to the current value of Rs 2,700 per sq.ft in 2024, reflecting an 8% increase.

Overall, from 2007 to 2024, the guideline value has increased by 238%. The revisions for the years 2002 and 2003 do not have any figures available for this street in the register.

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 value is Rs 2,700 per sq.ft, which is equal to the guideline value of Thitty Thottam 4th Cross Street.

• Thitty Thottam 3rd Street: Rs 2,700 per sq.ft (2024)
• Thitty Thottam 4th Street: Rs 2,700 per sq.ft (2024)
• Thitty Thottam 3rd Cross Street: Rs 2,700 per sq.ft (2024)
• Thitty Thottam 5th Cross Street: Rs 2,700 per sq.ft (2024)
• Thitty Thottam 2nd Street: Rs 2,700 per sq.ft (2024)
• Thitty Thottam 5th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Thitty Thottam 4th 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, bringing the total to 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 calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thitty Thottam 4th Cross Street?

The Sub Registrar Office that covers Thitty Thottam 4th Cross 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 when registering property transactions in Sembiam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these charges are based on a standardized valuation rather than arbitrary sale prices.

When buying or selling property, the guideline value helps both parties understand the minimum value for taxation purposes. This ensures transparency in property transactions and helps in maintaining a consistent approach to property valuation across the region.

Frequently asked questions

What is the current guideline value of Thitty Thottam 4th Cross Street?

The current guideline value of Thitty Thottam 4th 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 significantly 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 are the stamp duty and registration fees for properties in this area?

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 property registrations in Sembiam?

The Sembiam Sub Registrar Office handles property registrations in Sembiam, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification of Thitty Thottam 4th Cross Street?

Thitty Thottam 4th Cross Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.