Guideline Value for SEMATHAMMAL NEW COLONY

Semathammal New Colony guideline value

The current guideline value for Semathammal New Colony is Rs 3,200 per sq.ft, effective from 1 July 2024. This area is located in Perambur village under the Purasaivakkam SRO, classified as Residential Class III Type - I.

How the guideline value of Semathammal New Colony has changed

Over the years, the guideline value of Semathammal New Colony has seen significant changes. The earliest recorded revision was in 2003, where the guideline value was Rs 558 per sq.ft. This increased to Rs 600 per sq.ft in 2007, marking an increase of approximately 8%. The value then saw a substantial jump to Rs 3,000 per sq.ft in 2012, which represented a remarkable increase of 400%. The guideline value remained unchanged at Rs 3,000 per sq.ft until the 2023 revision, which brought it to Rs 3,200 per sq.ft, reflecting a 7% increase.

It is important to note that the register has no figures for Semathammal New Colony for the years 2002 and 2017. Overall, from 2003 to 2024, the guideline value has increased by 473%, showcasing the significant changes in property valuation over the years.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, placing Semathammal New Colony's 2024 figure above this median.

• Semathammal Colony Street: Rs 3,200 per sq.ft (2024)
• Semathammal Colony All Streets: Rs 3,200 per sq.ft (2024)
• Semathammal 3rd Street: Rs 3,200 per sq.ft (2024)
• Semathammal 2nd Street: Rs 3,200 per sq.ft (2024)
• Semathammal 1st Street: Rs 3,200 per sq.ft (2024)
• Sembarambakkam Road: Rs 3,200 per sq.ft (2024)

Stamp duty and registration fee for property in Semathammal New Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 3,200 per sq.ft, the total guideline value amounts to Rs 32,00,000. The stamp duty, charged at 7%, would be Rs 2,24,000, while the registration fee at 2% would be Rs 64,000. Together, the total cost for stamp duty and registration would be Rs 2,88,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Semathammal New Colony?

The Sub Registrar Office that covers Semathammal New Colony is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Perambur. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must ensure that they are aware of the current guideline value to accurately calculate these costs.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two amounts is used to calculate the applicable fees. This ensures that both parties are fairly charged based on the market value of the property.

Frequently asked questions

What is the current guideline value of Semathammal New Colony?

The current guideline value of Semathammal New Colony is Rs 3,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 558 per sq.ft in 2003 to Rs 3,200 per sq.ft in 2024, marking an overall increase of 473% over the years.

What are the stamp duty and registration fees for property in Semathammal New Colony?

For a 1,000 sq.ft plot valued at Rs 3,200 per sq.ft, the total guideline value is Rs 32,00,000. The stamp duty would be Rs 2,24,000 and the registration fee would be Rs 64,000, totaling Rs 2,88,000.

Which office handles property registration for Semathammal New Colony?

The Purasaivakkam Sub Registrar Office handles property registration for Semathammal New Colony, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the stamp duty and registration fees applicable during property transactions. It ensures that the fees are calculated based on the higher of the guideline value or the sale price, providing a fair basis for taxation.