Guideline Value for Thitty Thottam 4th Street

Thitty Thottam 4th Street guideline value

The current guideline value of Thitty Thottam 4th Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village and falls under the Sembiam Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of Thitty Thottam 4th Street has changed

The guideline value for Thitty Thottam 4th Street has undergone 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. However, this value dropped to Rs 1,675 per sq.ft in 2017, marking a decrease of 33%. The value then rose sharply to Rs 2,500 per sq.ft in 2023 and further increased to the current rate of Rs 2,700 per sq.ft in 2024, reflecting an 8% increase.

There are no figures available for the revisions in 2002 and 2003 for this street. 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 that carry a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft, with a median value of Rs 3,301 per sq.ft. The guideline value for Thitty Thottam 4th Street is below this median.

• Thitty Thottam 3rd Street: Rs 2,700 per sq.ft (2024)
• Thitty Thottam 2nd Street: Rs 2,700 per sq.ft (2024)
• Thitty Thottam Lakshmi Nagar: Rs 2,200 per sq.ft (2024)
• Thitty Thottam 1st Street: Rs 2,700 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 4th 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, and the registration fee at 2% would be Rs 54,000, totaling Rs 2,43,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thitty Thottam 4th Street?

The Sub Registrar Office that covers Thitty Thottam 4th 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 is a critical factor when registering property transactions in Peravallur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government collects appropriate stamp duties and registration fees based on this value.

When buying or selling property, it is essential to be aware of the current guideline value, as it impacts the overall cost of the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid any legal complications during registration.

Frequently asked questions

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

The current guideline value of Thitty Thottam 4th 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, with various increases and decreases in between.

What is the land classification for Thitty Thottam 4th Street?

The land classification for Thitty Thottam 4th Street is Residential Class I Type - I.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Thitty Thottam 4th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property with a guideline value of Rs 27,00,000, the stamp duty would be Rs 1,89,000 at 7%.