Guideline Value for Sembada Street

Sembada Street guideline value

The current guideline value of Sembada Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class IV Type - III.

How the guideline value of Sembada Street has changed

Looking at the revisions, the guideline value for Sembada Street has seen significant changes over the years. The earliest available revision is from 2007, where the value was Rs 620 per sq.ft. This increased dramatically to Rs 2,500 per sq.ft in 2012, marking a rise of 303%. The value remained unchanged at Rs 2,500 per sq.ft until the 2023 revision, which saw it increase to Rs 2,500 per sq.ft. The most recent revision in 2024 raised the value to Rs 2,700 per sq.ft, an increase of 8% from the previous year.

There are no figures available for the years 2002, 2003, and 2017 in the register for Sembada Street. Overall, from 2007 to 2024, the guideline value has increased by 335%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, which means Sembada Street's 2024 figure of Rs 2,700 per sq.ft is below that median.

• Selvavinayagar Koil Street Block 85(J.PET): Rs 4,100 per sq.ft (2024)
• Sekizhar Street: Rs 3,300 per sq.ft (2024)
• Sekizhar 3rd Street: Rs 3,300 per sq.ft (2024)
• Sekizhar 2nd Street: Rs 3,300 per sq.ft (2024)
• Seethalai Sathanar Street: Rs 3,300 per sq.ft (2024)
• Seethalai Sathanar Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sembada Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000. Together, the total cost would be Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Sembada Street?

The Sub Registrar Office that covers Sembada Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kodambakkam. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers should be aware that the guideline value is often considered the minimum value for property transactions.

When a property is sold, the sale price must meet or exceed the guideline value to ensure compliance with local regulations. This ensures that the government receives the appropriate taxes based on the property's value.

Frequently asked questions

What is the current guideline value of Sembada Street?

The current guideline value of Sembada Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 620 per sq.ft to Rs 2,700 per sq.ft in 2024, marking an overall increase of 335%.

What is the guideline value for other streets in Kodambakkam?

The guideline values for other streets in Kodambakkam range from Rs 2,200 to Rs 11,000 per sq.ft, with a median of Rs 4,900 per sq.ft.

What are the stamp duty and registration fees for properties in Sembada Street?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which office handles the registration for Sembada Street?

The Ashok Nagar Sub Registrar Office handles the registration for Sembada Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.