Guideline Value for SEMMOZHI NAGAR

Semmozhi Nagar guideline value

The current guideline value of Semmozhi Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Vallur village and falls under the Thiruvottiyur SRO with a land classification of Residential Class I Type - I.

How the guideline value of Semmozhi Nagar has changed

The guideline value for Semmozhi Nagar has undergone several revisions in recent years. The 2017 revision set the value at Rs 335 per sq.ft, which increased to Rs 500 per sq.ft in the 2023 revision. The most recent revision in 2024 has raised the guideline value to Rs 550 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Vallur

In Vallur, there are 75 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 220 to Rs 551 per sq.ft, with a median value of Rs 220 per sq.ft. Semmozhi Nagar's 2024 figure of Rs 550 per sq.ft is above this median.

• Sengam Pillai Nagar: Rs 330 per sq.ft (2024)
• Saraswathi Nagar: Rs 220 per sq.ft (2024)
• Sanjai Ganthi Nagar: Rs 550 per sq.ft (2024)
• Sakthi Nagar: Rs 330 per sq.ft (2024)
• Sri Balaji Nagar: Rs 220 per sq.ft (2024)
• Sababathi Nagar/ Ext: Rs 220 per sq.ft (2024)

Stamp duty and registration fee for property in Semmozhi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty is charged at 7%, which equals Rs 38,500, and the registration fee at 2% amounts to Rs 11,000. Together, the total cost for these fees would be Rs 49,500. 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 more details on fees applicable to your property transaction.

Which Sub Registrar Office covers Semmozhi Nagar?

The Sub Registrar Office that covers Semmozhi Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Vallur, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Semmozhi Nagar?

The current guideline value of Semmozhi Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 335 per sq.ft in 2017 to Rs 500 per sq.ft in 2023, and now to Rs 550 per sq.ft in 2024. From 2017 to 2024, the overall increase is 64%.

What are the stamp duty and registration fees for properties in Semmozhi Nagar?

For a 1,000 sq.ft plot valued at Rs 5,50,000, the stamp duty would be Rs 38,500 and the registration fee would be Rs 11,000, totaling Rs 49,500. These fees are based on the higher of the guideline value or the sale price.

Which Sub Registrar Office covers Semmozhi Nagar?

The Thiruvottiyur Sub Registrar Office covers Semmozhi Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the land classification for Semmozhi Nagar?

Semmozhi Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.