Guideline Value for Thitty Thottam 6th Cross Street

Thitty Thottam 6th Cross Street guideline value

The current guideline value of Thitty Thottam 6th 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 6th Cross Street has changed

The guideline value for Thitty Thottam 6th 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, it then decreased to Rs 1,675 per sq.ft in 2017, reflecting a 33% drop. The value rose again to Rs 2,500 per sq.ft in 2023, and finally reached Rs 2,700 per sq.ft in 2024, representing an 8% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 238%. The jump from Rs 1,675 per sq.ft in 2017 to Rs 2,700 per sq.ft in 2024 is a notable increase of 49% over that period.

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, with the median value being Rs 2,700 per sq.ft. Thitty Thottam 6th Cross Street's 2024 guideline value aligns with this median.

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

Stamp duty and registration fee for property in Thitty Thottam 6th 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 the 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 6th Cross Street?

The Sub Registrar Office that covers Thitty Thottam 6th 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 plays a crucial role in the registration process of property transactions in Sembiam. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that both parties are aware of the costs involved.

It is essential for buyers and sellers to understand that the guideline value may differ from the actual sale price. Therefore, the duty is charged on the higher of the two values, which can significantly impact the total expenses during the registration of the property.

Frequently asked questions

What is the current guideline value of Thitty Thottam 6th Cross Street?

The current guideline value of Thitty Thottam 6th 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 from Rs 800 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, showing an overall increase of 238% over the years.

What is the stamp duty rate for properties in Thitty Thottam 6th Cross Street?

The stamp duty rate for properties in Thitty Thottam 6th Cross Street is 7% of the guideline value or 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.

What are the guideline values of other streets in Sembiam?

Other streets in Sembiam have a guideline value ranging from Rs 1,700 to Rs 7,100 per sq.ft, with several streets, including Thitty Thottam 5th Street and Thivuvalluvar Street, also valued at Rs 2,700 per sq.ft in 2024.