Guideline Value for Thitty Thottam 5th Street

Thitty Thottam 5th Street guideline value

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

The guideline value for Thitty Thottam 5th 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. However, it then decreased to Rs 1,675 per sq.ft in 2017. Following this, the value rose substantially to Rs 2,500 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 2,700 per sq.ft, marking an 8% increase from the previous year.

Between the revisions, the changes are notable. From 2007 to 2012, there was a remarkable increase of 213%. The value then decreased by 33% from 2012 to 2017. However, from 2017 to 2023, there was a significant rise of 49%. Overall, from 2007 to 2024, the guideline value has increased by 238%. The register has no figures for the years 2002 and 2003 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 for these streets is Rs 2,700 per sq.ft, which aligns with the 2024 figure for Thitty Thottam 5th Street.

• Thitty Thottam 5th Cross Street: Rs 2,700 per sq.ft (2024)
• Thitty Thottam 6th Cross Street: Rs 2,700 per sq.ft (2024)
• Thitty Thottam 4th Street: Rs 2,700 per sq.ft (2024)
• Thitty Thottam 6th Street: Rs 2,700 per sq.ft (2024)
• Thitty Thottam 4th Cross 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 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 fees together to 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 our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Thitty Thottam 5th Street?

The Sub Registrar Office that covers Thitty Thottam 5th 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 plays a crucial role in the registration process of property transactions in Sembiam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that all transactions are conducted at a fair value.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with property transactions. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price.

Frequently asked questions

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

The current guideline value of Thitty Thottam 5th 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 undergone several changes, increasing from Rs 800 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, with fluctuations in between.

What is the land classification for Thitty Thottam 5th Street?

Thitty Thottam 5th Street is classified as Residential Class I Type - I, indicating its designation for residential use.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles the registration of properties in the area.

How is the stamp duty calculated for properties in Thitty Thottam 5th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value results in a total fee of Rs 2,43,000, including stamp duty and registration fees.