Guideline Value for SEMATHAMMAL COLONY STREET

Semathammal Colony Street guideline value

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

How the guideline value of Semathammal Colony Street has changed

The guideline value for Semathammal Colony Street has seen several revisions over the years. In 2002, the guideline value was Rs 509 per sq.ft. This increased to Rs 558 per sq.ft in 2003, marking a 10% rise. By 2007, the value surged to Rs 600 per sq.ft, reflecting an 8% increase. A significant jump occurred in 2012, where the value reached Rs 3,000 per sq.ft, which was a 400% increase from the previous revision. However, it then dropped to Rs 2,010 per sq.ft in 2017, indicating a decrease of 33%.

In the subsequent revisions, the guideline value rose again to Rs 3,000 per sq.ft in 2023, which was a 49% increase. The most recent revision in 2024 set the guideline value at Rs 3,200 per sq.ft, showing a 7% increase from the previous year. The overall change from 2002 to 2024 reflects a substantial increase of 529%.

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 value is Rs 2,700 per sq.ft, placing Semathammal Colony Street's 2024 guideline value above this median.

• Semathammal Colony All Streets: Rs 3,200 per sq.ft (2024)
• Semathammal New Colony: 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 Colony Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,200 per sq.ft, the total guideline value would be Rs 32,00,000. The stamp duty at 7% would amount to Rs 2,24,000, while the registration fee at 2% would be Rs 64,000, bringing the total fees to Rs 2,88,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more accurate estimates.

Which Sub Registrar Office covers Semathammal Colony Street?

The Sub Registrar Office that covers Semathammal Colony Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process for property transactions in Perambur. It serves as the basis for calculating stamp duty and registration fees, ensuring that both buyers and sellers are aware of the official value attributed to the property.

When a property is bought or sold, the guideline value is compared to the sale price. The higher of the two figures is used to determine the applicable stamp duty, ensuring compliance with local regulations and fair taxation on property transactions.

Frequently asked questions

What is the current guideline value of Semathammal Colony Street?

The current guideline value of Semathammal Colony Street 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 changed significantly from Rs 509 per sq.ft in 2002 to Rs 3,200 per sq.ft in 2024, resulting in an overall increase of 529% over this period.

What are the other streets in Perambur with the same guideline value?

Other streets in Perambur with the same guideline value of Rs 3,200 per sq.ft include Semathammal Colony All Streets, Semathammal New Colony, Semathammal 1st Street, Semathammal 2nd Street, Semathammal 3rd Street, and Sembarambakkam Road.

Where is the Purasaivakkam Sub Registrar Office located?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the stamp duty calculated for properties in Semathammal Colony Street?

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