Guideline Value for Thitty Thottam 6th Street

Thitty Thottam 6th Street guideline value

The current guideline value of Thitty Thottam 6th Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village, which falls under the Sembiam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Thitty Thottam 6th Street has changed

The guideline value for Thitty Thottam 6th Street has seen several revisions over the years. The oldest recorded revision is from 2007, where the guideline value was Rs 800 per sq.ft. It increased significantly to Rs 2,500 per sq.ft in 2012, but then dropped to Rs 1,675 per sq.ft in 2017. Following this, the value rose to Rs 2,500 per sq.ft in 2023 and is now Rs 2,700 per sq.ft in 2024, marking an increase of 8% from the previous year.

From 2007 to 2024, the overall increase in the guideline value is 238%. The changes between the revisions are notable: from 2007 to 2012, there was a 213% increase, followed by a decrease of 33% from 2012 to 2017, and a substantial increase of 49% from 2017 to 2023. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Sembiam

In Sembiam village, there are 250 streets under the Sembiam SRO that carry a guideline value for 2024, 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, making the guideline value for Thitty Thottam 6th Street equal to this median.

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

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the 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, totaling 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 information on calculating these costs.

Which Sub Registrar Office covers Thitty Thottam 6th Street?

The Sub Registrar Office that covers Thitty Thottam 6th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration of property transactions in Sembiam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are based on this value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Thitty Thottam 6th 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 are the other streets with the same guideline value in Sembiam?

Other streets in Sembiam that share the same guideline value of Rs 2,700 per sq.ft include Thitty Thottam 6th Cross Street, Thitty Thottam 5th Street, Thitty Thottam 5th Cross Street, Thivuvalluvar Street, Thitty Thottam 4th Street, and Thitty Thottam 4th Cross Street.

What is the stamp duty for a property in Thitty Thottam 6th Street?

The stamp duty for a property in Thitty Thottam 6th Street is 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a stamp duty of Rs 1,89,000.

Where is the Sub Registrar Office for Thitty Thottam 6th Street located?

The Sub Registrar Office for Thitty Thottam 6th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.