Guideline Value for SEMBADA STREET

Sembada Street guideline value

The current guideline value of Sembada Street in Saidapet village is Rs 4,400 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class II Type - II.

How the guideline value of Sembada Street has changed

Starting from the earliest revision in 2002, the guideline value for Sembada Street was Rs 491 per sq.ft. This value saw a significant increase to Rs 615 per sq.ft in 2003, marking a rise of 25%. The following revisions were as follows: in 2007, the value jumped to Rs 1,100 per sq.ft, reflecting a 79% increase. The 2012 revision saw the value rise to Rs 4,000 per sq.ft, which was a substantial increase of 264% from the previous figure. However, in 2017, the value dropped to Rs 2,680 per sq.ft, representing a decrease of 33%.

In 2023, the guideline value increased to Rs 4,000 per sq.ft, and in the latest revision for 2024, it rose to Rs 4,400 per sq.ft, which is a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 796%. There are no other revisions with figures for this street in the register.

Guideline values in Saidapet

In Saidapet, there are 106 streets under the Chennai South Joint II SRO, with the 2024 guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, which is equal to the current guideline value of Sembada Street.

• Samiyar Garden: Rs 3,300 per sq.ft (2024)
• Salavaiyalar Colony 3rd Street: Rs 4,400 per sq.ft (2024)
• Salavaiyalar Colony 2nd Street: Rs 4,400 per sq.ft (2024)
• Salaivaiyalar 1st Street: Rs 4,400 per sq.ft (2024)
• Sowndareeswarar Koil Street: Rs 3,300 per sq.ft (2024)
• Rathinam Thottam 1st Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Sembada Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sembada Street?

The Sub Registrar Office that covers Sembada Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Saidapet. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions. Buyers and sellers must be aware of the guideline value to understand their financial obligations during the transaction.

When a property is sold, the guideline value is used to determine the minimum value at which the property can be registered. If the sale price is higher than the guideline value, the stamp duty is calculated based on the sale price. This ensures that all property transactions are conducted transparently and fairly.

Frequently asked questions

What is the current guideline value of Sembada Street?

The current guideline value of Sembada Street is Rs 4,400 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 491 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 796% over the years.

What is the classification of Sembada Street?

Sembada Street is classified as Residential Class II Type - II under the Chennai South Joint II SRO.

What are the stamp duty rates applicable in Sembada Street?

The stamp duty rate applicable in Sembada Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Sembada Street?

The Sub Registrar Office for Sembada Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.