Guideline Value for Thitty Thottam Lakshmi Nagar

Thitty Thottam Lakshmi Nagar guideline value

The current guideline value of Thitty Thottam Lakshmi Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Peravallur village, under the Sembiam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Thitty Thottam Lakshmi Nagar has changed

The guideline value for Thitty Thottam Lakshmi Nagar has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 325 per sq.ft. This increased to Rs 354 per sq.ft in 2003, marking a change of +9%. The following revision in 2007 saw a significant jump to Rs 700 per sq.ft, an increase of +98%. In 2012, the value rose to Rs 2,000 per sq.ft, reflecting a substantial increase of +186%. However, in 2017, the value decreased to Rs 1,340 per sq.ft, a decline of -33%. The 2023 revision set the value at Rs 2,000 per sq.ft, which was then increased to the current rate of Rs 2,200 per sq.ft in 2024, marking a rise of +10%.

Overall, from 2002 to 2024, the guideline value has increased by +577%. The register has no figures for the years not mentioned in the revisions above.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft, with a median value of Rs 3,301 per sq.ft. Thitty Thottam Lakshmi Nagar's current figure is below this median.

• Thitty Thottam 4th Street: Rs 2,700 per sq.ft (2024)
• Thiyagarajan Street (Vetri Nagar): Rs 3,301 per sq.ft (2024)
• Thitty Thottam 3rd Street: Rs 2,700 per sq.ft (2024)
• Thitty Thottam 2nd Street: Rs 2,700 per sq.ft (2024)
• Thitty Thottam 1st Street: Rs 2,700 per sq.ft (2024)
• Thiru.Vi.Ka.Nagar: Rs 4,200 per sq.ft (2024)

Stamp duty and registration fee for property in Thitty Thottam Lakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thitty Thottam Lakshmi Nagar?

The Sub Registrar Office that covers Thitty Thottam Lakshmi Nagar 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 Peravallur

The guideline value is a crucial factor in property transactions in Peravallur. It serves as the basis for calculating the stamp duty and registration fees when registering a property. Buyers and sellers should be aware that the guideline value is used to determine the official value of the property for taxation purposes.

When a property is sold, the higher value between the guideline value and the sale price is taken into account for calculating the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thitty Thottam Lakshmi Nagar?

The current guideline value of Thitty Thottam Lakshmi Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 325 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of +577% over this period.

What is the registration office for Thitty Thottam Lakshmi Nagar?

The registration office for Thitty Thottam Lakshmi Nagar is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated in Thitty Thottam Lakshmi Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 22,00,000.

What are the other streets in Peravallur with their guideline values?

Other streets in Peravallur include Thitty Thottam 4th Street at Rs 2,700 per sq.ft, Thiyagarajan Street (Vetri Nagar) at Rs 3,301 per sq.ft, and Thitty Thottam 1st, 2nd, 3rd Streets at Rs 2,700 per sq.ft each, among others.