Guideline Value for SEMMENCHERRY NUKKAM PALAYAM STREET

Semmencherry Nukkam Palayam Street guideline value

The current guideline value of Semmencherry Nukkam Palayam Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Chemmancheri village, under the Neelankarai SRO, and is classified as Residential Class I Type - II.

How the guideline value of Semmencherry Nukkam Palayam Street has changed

The guideline value for Semmencherry Nukkam Palayam Street has undergone several revisions over the years. In the 2007 revision, the value was Rs 344 per sq.ft. This figure saw a significant increase of 772% by the 2012 revision, bringing it to Rs 3,000 per sq.ft. However, in the 2017 revision, the value decreased to Rs 2,010 per sq.ft, marking a decline of 33%. The 2023 revision then raised the value to Rs 3,000 per sq.ft, followed by another increase of 10% in the 2024 revision, setting the current value at Rs 3,300 per sq.ft.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 859%.

Guideline values in Chemmancheri

In Chemmancheri village, there are 195 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median value among these streets is Rs 1,700 per sq.ft, making the guideline value of Semmencherry Nukkam Palayam Street above this median.

• Senthil Kumar Garden: Rs 1,700 per sq.ft (2024)
• Sheela Mohan Garden: Rs 1,000 per sq.ft (2024)
• Saviour Garden: Rs 1,100 per sq.ft (2024)
• Savaithiri Garden: Rs 3,300 per sq.ft (2024)
• Sholinganallur Co.Op. Meha Nagar/Gandhi Nagar Co.Op.Society: Rs 2,800 per sq.ft (2024)
• Simrise Pvt. Ltd.,Co.I: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Semmencherry Nukkam Palayam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, these fees would total Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Semmencherry Nukkam Palayam Street?

The Semmencherry Nukkam Palayam Street falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property in Chemmancheri. It determines the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When a buyer or seller engages in a transaction, the guideline value is referenced to calculate the applicable fees. The registration process mandates that the property cannot be registered for less than the guideline value, protecting the interests of both parties involved.

Frequently asked questions

What is the current guideline value of Semmencherry Nukkam Palayam Street?

The current guideline value of Semmencherry Nukkam Palayam Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 344 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024. The most notable change was a 772% increase from 2007 to 2012, followed by a decrease in 2017 and subsequent increases in 2023 and 2024.

What is the classification of the land on Semmencherry Nukkam Palayam Street?

The land on Semmencherry Nukkam Palayam Street is classified as Residential Class I Type - II, indicating its suitability for residential development.

What are the stamp duty rates applicable for properties in this area?

The stamp duty for properties in Semmencherry Nukkam Palayam Street is charged at 7% of the guideline value or sale price, whichever is higher. The registration fee is charged at 2% of the same value.

Where can I find the Sub Registrar Office for Semmencherry Nukkam Palayam Street?

The Neelankarai Sub Registrar Office covers Semmencherry Nukkam Palayam Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.