Guideline Value for Thitty Thottam 5th Cross Street

Thitty Thottam 5th Cross Street guideline value

The current guideline value of Thitty Thottam 5th 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 5th Cross Street has changed

The guideline value for Thitty Thottam 5th Cross Street has undergone several revisions over the years. In the 2007 revision, the guideline value was Rs 800 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, marking a 213% rise. However, it then decreased to Rs 1,675 per sq.ft in 2017, which was a 33% drop. The value saw a substantial increase again in the 2023 revision, rising to Rs 2,500 per sq.ft, and finally, the current 2024 revision sets it at Rs 2,700 per sq.ft, an 8% increase from the previous year.

It is important to note that 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 Sembiam

In Sembiam village, there are 250 streets under the Sembiam SRO that have a 2024 guideline value ranging from Rs 1,700 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which aligns with the current figure for Thitty Thottam 5th Cross Street.

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

Stamp duty and registration fee for property in Thitty Thottam 5th 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 would be Rs 27,00,000. The stamp duty, charged at 7%, would amount to Rs 1,89,000, while the registration fee at 2% would be Rs 54,000. Therefore, the total cost for stamp duty and registration fee would be Rs 2,43,000. Please note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Thitty Thottam 5th Cross Street?

The Sub Registrar Office that covers Thitty Thottam 5th Cross Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Sembiam

The guideline value is a crucial factor in the registration process of property transactions in Sembiam. It serves as a benchmark for determining the stamp duty and registration fees payable when a property is bought or sold.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Thitty Thottam 5th Cross Street?

The current guideline value for Thitty Thottam 5th 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 over the years, from Rs 800 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 238% since then.

What is the stamp duty rate for properties in Thitty Thottam 5th Cross Street?

The stamp duty rate for properties in Thitty Thottam 5th Cross Street is 7% of the guideline value or the sale price, whichever is higher.

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.

How do I calculate the registration fees for a property in Thitty Thottam 5th Cross Street?

To calculate the registration fees, you need to consider the guideline value of the property. For example, for a property valued at Rs 27,00,000, the registration fee would be 2% of that amount, which is Rs 54,000.