Guideline Value for SEMMAN PETTAI 2ND STREET

Semman Pettai 2nd Street guideline value

The current guideline value of Semman Pettai 2nd Street is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class II Type - III.

How the guideline value of Semman Pettai 2nd Street has changed

Over the years, the guideline value for Semman Pettai 2nd Street has seen significant changes. The 2007 revision set the value at Rs 1,800 per sq.ft, which increased to Rs 6,500 per sq.ft in the 2012 revision. However, this figure decreased by 33% to Rs 4,355 per sq.ft in 2017. The value then rose dramatically to Rs 6,500 per sq.ft in 2023, and further increased by 9% to the current Rs 7,100 per sq.ft in 2024. It is worth noting that the register has no figure for this street in 2002 and 2003.

From 2007 to 2012, the guideline value increased by 261%. The value then saw a 49% rise from 2017 to 2023. Overall, from 2007 to 2024, there has been a substantial increase of 294% in the guideline value.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value in this area is Rs 5,500 per sq.ft, placing Semman Pettai 2nd Street's current value above that median.

• Semman Pettai 1st Street: Rs 7,100 per sq.ft (2024)
• Semman Pettai 3rd Street: Rs 7,100 per sq.ft (2024)
• Semman Pettai: Rs 7,100 per sq.ft (2024)
• Semman Pettai Main Street: Rs 7,100 per sq.ft (2024)
• Selvaperumal Puram Koil Street: Rs 4,400 per sq.ft (2024)
• Secretariat Colony Lane: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Semman Pettai 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total cost for these fees to Rs 6,39,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Semman Pettai 2nd Street?

The Sub Registrar Office that covers Semman Pettai 2nd Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Purasaivakkam. It serves as a benchmark for determining the minimum value at which property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When a buyer or seller engages in a transaction, the guideline value helps in assessing the applicable fees based on the higher of the guideline value or the sale price. This ensures transparency and compliance with local regulations during the property registration process.

Frequently asked questions

What is the current guideline value of Semman Pettai 2nd Street?

The current guideline value of Semman Pettai 2nd Street is Rs 7,100 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 1,800 per sq.ft in 2007 to Rs 7,100 per sq.ft in 2024, marking an overall increase of 294%.

What is the land classification for Semman Pettai 2nd Street?

Semman Pettai 2nd Street is classified as Residential Class II Type - III.

Where can I find the Sub Registrar Office for Semman Pettai 2nd Street?

The Sub Registrar Office for Semman Pettai 2nd Street is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How are stamp duties calculated for property transactions?

Stamp duties are calculated based on the higher of the guideline value or the sale price of the property. The current rate for stamp duty is 7%, while the registration fee is 2% of the guideline value.