Sentiment analysis is an active research area in today’s era due to the abundance of opinionated data present on online social networks. Semantic detection is a sub-category of sentiment analysis which deals with the identification of sentiment orientation in any text. Many sentiment applications rely on lexicons to supply features to a model. Various machine learning algorithms and sentiment lexicons have been proposed in research in order to improve sentiment categorization. Supervised machine learning algorithms and domain specific sentiment lexicons generally perform better as compared to the unsupervised or semi-supervised domain independent lexicon based approaches. The core hindrance in the application of supervised algorithms or domain specific sentiment lexicons is the unavailability of sentiment labeled training datasets for every domain. On the other hand, the performance of algorithms based on general purpose sentiment lexicons needs improvement. This research is focused on building a general purpose sentiment lexicon in a semi-supervised manner. The proposed lexicon defines word semantics based on Expected Likelihood Estimate Smoothed Odds Ratio that are then incorporated with supervised machine learning based model selection approach. A comprehensive performance comparison verifies the superiority of our proposed approach.