Guideline Value for John Kennedy Street

John Kennedy Street guideline value

The current guideline value of John Kennedy Street is Rs 4,100 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO, classified as Residential Class IV Type - I.

How the guideline value of John Kennedy Street has changed

Over the years, the guideline value of John Kennedy Street has seen significant changes. The earliest recorded revision in 2007 set the guideline value at Rs 1,210 per sq.ft. This increased substantially to Rs 3,750 per sq.ft in 2012, marking a 210% rise. However, in 2017, the value decreased to Rs 2,512 per sq.ft, a drop of 33%. The value then rose to Rs 3,750 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 has set the guideline value at Rs 4,100 per sq.ft, which is a 9% increase from the previous year.

It is important to note that the register does not have figures for John Kennedy Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 239%.

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, with a median value of Rs 4,900 per sq.ft. The guideline value of John Kennedy Street is below this median.

• Jones Road (Lane): Rs 5,500 per sq.ft (2024)
• Jones Road (West): Rs 7,000 per sq.ft (2024)
• Jothi Ramalingam 1st Street: Rs 4,100 per sq.ft (2024)
• Jothi Ramalingam 2nd Street: Rs 4,100 per sq.ft (2024)
• Jothi Ramalingam Lane Block 83: Rs 4,100 per sq.ft (2024)
• Jothi Ramalingam Street: Rs 4,100 per sq.ft (2024)

Stamp duty and registration fee for property in John Kennedy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,100 per sq.ft, the total guideline value amounts to Rs 41,00,000. The stamp duty at 7% would be Rs 2,87,000, while the registration fee at 2% would be Rs 82,000, bringing the total fees to Rs 3,69,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers John Kennedy Street?

The Sub Registrar Office that covers John Kennedy 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 further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Kodambakkam. It serves as the basis for calculating stamp duty and registration fees, which are mandatory for property transfers. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to determine the applicable fees. This ensures that the government receives the correct amount in taxes and fees based on the property's value.

Frequently asked questions

What is the current guideline value of John Kennedy Street?

The current guideline value of John Kennedy Street is Rs 4,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,210 per sq.ft in 2007 to Rs 4,100 per sq.ft in 2024, marking an overall increase of 239%.

What is the land classification of John Kennedy Street?

John Kennedy Street is classified as Residential Class IV Type - I under the Ashok Nagar SRO.

Where can I find the Sub Registrar Office for John Kennedy Street?

The Sub Registrar Office for John Kennedy Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in John Kennedy Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 41,00,000 would incur a stamp duty of Rs 2,87,000 at 7%.