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 Sembiam village, under the Sembiam SRO, and is classified as 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 seen significant changes over the years. The earliest recorded revision is from 2003, with a guideline value of Rs 563 per sq.ft. This value increased to Rs 900 per sq.ft in 2007, marking a 60% rise. In 2012, the value was Rs 2,500 per sq.ft, reflecting a substantial increase of 178%. However, it dropped to Rs 1,675 per sq.ft in 2017, a decrease of 33%. The value then rose to Rs 2,500 per sq.ft in 2023, and finally reached Rs 2,700 per sq.ft in 2024, representing an 8% increase.

Overall, from 2003 to 2024, the guideline value has increased by 380%. The register has no figure for the year 2002 for this street.

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 the same as the guideline value for Thitty Thottam 4th Street. Below are other streets in Sembiam:

• Thitty Thottam 5th Cross Street: Rs 2,700 per sq.ft (2024)
• Thitty Thottam 4th Cross Street: Rs 2,700 per sq.ft (2024)
• Thitty Thottam 5th Street: Rs 2,700 per sq.ft (2024)
• Thitty Thottam 3rd Street: Rs 2,700 per sq.ft (2024)
• Thitty Thottam 6th Cross Street: Rs 2,700 per sq.ft (2024)
• Thitty Thottam 6th Street: Rs 2,700 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 is 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, totaling Rs 2,43,000. 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 details.

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 Sembiam

The guideline value is a crucial factor when registering a property in Sembiam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers must consider the guideline value to ensure compliance with local regulations.

When a property is sold, the registration office uses the guideline value to calculate the applicable fees. This ensures that the transaction is recorded accurately and that the appropriate taxes are collected based on the established guideline values.

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 significantly from Rs 563 per sq.ft in 2003 to Rs 2,700 per sq.ft in 2024, with various increases and decreases recorded in between.

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

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

What is the stamp duty rate for properties in Thitty Thottam 4th Street?

The stamp duty rate for properties in Thitty Thottam 4th Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011, and it handles registrations for properties in this area.