Guideline Value for SEMMAN PETTAI MAIN STREET

Semman Pettai Main Street guideline value

The current guideline value of Semman Pettai Main Street is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village and falls under the Purasaivakkam SRO. The land classification for this area is Residential Class II Type - III.

How the guideline value of Semman Pettai Main Street has changed

The guideline value for Semman Pettai Main Street has seen several revisions over the years. In 2007, the guideline value was Rs 1,800 per sq.ft, which increased significantly to Rs 6,500 per sq.ft in 2012. However, this figure dropped to Rs 4,355 per sq.ft in 2017. The next revision in 2023 set the value at Rs 6,500 per sq.ft, and the most recent revision in 2024 has raised it to Rs 7,100 per sq.ft. Notably, the register has no figures for this street in 2002 and 2003.

From 2017 to 2023, the value increased by 49%, while the jump from 2023 to 2024 is 9%. The overall change from 2007 to 2024 reflects a significant increase of 294%. The highest increase was observed from 2007 to 2012, with a rise of 261%, followed by a decrease of 33% from 2012 to 2017.

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 value is Rs 5,500 per sq.ft, making Semman Pettai Main Street's 2024 figure above this median.

• Semman Pettai 3rd Street: Rs 7,100 per sq.ft (2024)
• Semman Pettai 2nd Street: Rs 7,100 per sq.ft (2024)
• Semman Pettai 1st Street: Rs 7,100 per sq.ft (2024)
• Semman Pettai: 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 Main Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would amount to Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, totaling Rs 6,39,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Semman Pettai Main Street?

The Sub Registrar Office that covers Semman Pettai Main 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 Purasaivakkam

When buying or selling property in Purasaivakkam, the guideline value plays a crucial role in determining the registration fees and stamp duty. The guideline value is used to assess the amount payable during the registration process, ensuring that the transaction is recorded accurately.

It is essential for buyers and sellers to be aware of the current guideline value in their area, as it can affect the overall cost of property transactions. Understanding these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Semman Pettai Main Street?

The current guideline value of Semman Pettai Main 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 from Rs 1,800 per sq.ft in 2007 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 294% over the years.

What is the land classification for Semman Pettai Main Street?

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

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

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

How is stamp duty calculated for properties in Semman Pettai Main Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 4,97,000.