Guideline Value for SEMMAN PETTAI

Semman Pettai guideline value

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

How the guideline value of Semman Pettai has changed

The guideline value for Semman Pettai has undergone several revisions over the years. In 2007, the value was set at Rs 1,800 per sq.ft. This increased significantly to Rs 6,500 per sq.ft in 2012, marking a 261% rise. However, the value dropped to Rs 4,355 per sq.ft in 2017, a decrease of 33%. The subsequent revision in 2023 brought the value back up to Rs 6,500 per sq.ft, and the latest revision in 2024 has set it at Rs 7,100 per sq.ft, reflecting a 9% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 294%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Purasaivakkam

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

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

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, making the total cost Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Semman Pettai?

The Sub Registrar Office that covers Semman Pettai 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 in the registration process of property transactions in Purasaivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is used to ensure that the transaction is recorded at a fair value, and it helps in the assessment of taxes due on the property. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Semman Pettai?

The current guideline value of Semman Pettai 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, marking an overall increase of 294% over the years.

What is the stamp duty rate for properties in Semman Pettai?

The stamp duty rate for properties in Semman Pettai is 7% of the guideline value or the sale price, whichever is higher.

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

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

What is the land classification for Semman Pettai?

Semman Pettai is classified as Residential Class II Type - III, which is important for understanding its usage and development potential.