Guideline Value for Sembakkam Main Road

Sembakkam Main Road guideline value

The current guideline value of Sembakkam Main Road is Rs 2,750 per sq.ft, effective from 1 July 2024. This road is located in Chitlapakkam village under the Tambaram Joint 1 SRO, and it falls under the Residential Class I Type - II land classification.

How the guideline value of Sembakkam Main Road has changed

Looking at the revisions, the guideline value for Sembakkam Main Road has seen several changes over the years. The 2012 revision recorded a value of Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023, and then further rose to the current value of Rs 2,750 per sq.ft in 2024. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. The overall change from 2012 to 2024 shows a modest increase of 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Sembakkam Main Road's 2024 guideline value above this median.

• Sekkilar Street: Rs 1,100 per sq.ft (2024)
• Sekar Avenue: Rs 2,750 per sq.ft (2024)
• Seetharaman Street: Rs 1,320 per sq.ft (2024)
• Seetha pathy Nagar Extn.: Rs 1,320 per sq.ft (2024)
• Seethapathi Street: Rs 2,750 per sq.ft (2024)
• Sethupillai Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Sembakkam Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total charges to Rs 2,47,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sembakkam Main Road?

The Sembakkam Main Road is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Chitlapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a buyer or seller engages in a transaction, the guideline value is assessed to calculate the applicable charges. It is essential for both parties to be aware of the current guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sembakkam Main Road?

The current guideline value of Sembakkam Main Road is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification for Sembakkam Main Road?

Sembakkam Main Road falls under the Residential Class I Type - II land classification.

Where can I find the registration office for Sembakkam Main Road?

The registration office for Sembakkam Main Road is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for properties on Sembakkam Main Road?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 at a rate of 7%.