Guideline Value for Semal City Babu Nagar

Semal City Babu Nagar guideline value

The current guideline value of Semal City Babu Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village under the Sembiam SRO and is classified as Residential Class IV Type - I.

How the guideline value of Semal City Babu Nagar has changed

The guideline value for Semal City Babu Nagar has undergone several revisions over the years. The earliest recorded figure is from 2003, where the guideline value was Rs 289 per sq.ft. This increased significantly to Rs 700 per sq.ft in 2007, marking a change of +142%. The value remained at Rs 2,000 per sq.ft from 2012 until 2023, with no change during this period. In 2023, the value was revised to Rs 2,000 per sq.ft, and then increased again to Rs 2,200 per sq.ft in 2024, which is a +10% change.

Overall, from 2003 to 2024, the guideline value has increased by +661%. Notably, there are no recorded figures for the years 2017 and 2002 for this street in the register.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Semal City Babu Nagar's 2024 figure below that median.

• Selvi Nagar / Selvi Avenue: Rs 2,200 per sq.ft (2024)
• Selvi Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Selvi Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Selvi Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Selvi Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Selvi Nagar 1st Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Semal City Babu Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Semal City Babu Nagar?

The Sub Registrar Office that covers Semal City Babu Nagar is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value for Semal City Babu Nagar?

The current guideline value for Semal City Babu Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 289 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of +661% over this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles property registrations in Semal City Babu Nagar?

The Sembiam Sub Registrar Office handles property registrations in Semal City Babu Nagar, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the classification of land in Semal City Babu Nagar?

The land in Semal City Babu Nagar is classified as Residential Class IV Type - I, indicating its intended use for residential purposes.