Guideline Value for SEMATHAMMAL 1ST STREET

Semathammal 1st Street guideline value

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

How the guideline value of Semathammal 1st Street has changed

The guideline value for Semathammal 1st Street has seen several revisions over the years. In 2003, the guideline value was Rs 558 per sq.ft, which increased to Rs 600 per sq.ft in 2007, marking an 8% rise. The value then surged significantly to Rs 3,000 per sq.ft in 2012, representing a 400% increase. The value remained unchanged at Rs 3,000 per sq.ft until the next revision in 2023.

In 2023, the guideline value was raised to Rs 3,200 per sq.ft, reflecting a 7% increase from the previous year. Overall, from 2003 to the current 2024 value, there has been an increase of 473%. Notably, there are no figures available for the revisions in 2002 and 2017 for this street.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO, with guideline values ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median guideline value is Rs 2,700 per sq.ft, placing Semathammal 1st Street's 2024 figure above this median.

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

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 at 7% would be Rs 2,24,000, and the registration fee at 2% would be Rs 64,000, leading to a total of Rs 2,88,000. Duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Semathammal 1st Street?

The Sub Registrar Office that covers Semathammal 1st Street 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 is an important factor during property transactions in Perambur. It serves as a benchmark for calculating stamp duty and registration fees, which are mandatory for property registration. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value helps determine the official value for registration purposes. This ensures that the transaction is recorded accurately and reflects the current market conditions as per the local government's assessment.

Frequently asked questions

What is the current guideline value of Semathammal 1st Street?

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

How has the guideline value changed over the years?

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

What is the land classification for Semathammal 1st Street?

Semathammal 1st Street is classified as Residential Class III Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Semathammal 1st Street?

The Sub Registrar Office for Semathammal 1st Street is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for properties in Semathammal 1st Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 32,00,000, the stamp duty at 7% would be Rs 2,24,000.