Guideline Value for KENNADI STREET

Kennadi Street guideline value

The current guideline value of Kennadi Street in Zaminpallavaram village is Rs 3,520 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class I Type - I.

How the guideline value of Kennadi Street has changed

In the 2012 revision, the guideline value was Rs 2,500 per sq.ft. This figure remained unchanged in the 2023 revision, where it continued to be Rs 2,500 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 3,520 per sq.ft, marking a significant increase of 41% from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 41%. The register does not have figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value of these streets is Rs 3,300 per sq.ft, placing Kennadi Street's 2024 figure above that median.

• Kennedy Street (Naidu Shop Street): Rs 3,520 per sq.ft (2024)
• Katvindhan Street: Rs 2,750 per sq.ft (2024)
• Kattabomman Street: Rs 3,850 per sq.ft (2024)
• Kolappan Street: Rs 3,300 per sq.ft (2024)
• Kollanchavadi: Rs 2,750 per sq.ft (2024)
• Kasthuribai Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kennadi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value would be Rs 35,20,000. The stamp duty at 7% would amount to Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total cost to Rs 3,16,800. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kennadi Street?

The Sub Registrar Office that covers Kennadi Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial reference point during the registration of property transactions in Zaminpallavaram. It helps determine the stamp duty and registration fees that need to be paid, ensuring that both buyers and sellers are aware of the financial obligations involved in the sale.

When a property is sold, the guideline value serves as a benchmark for the transaction price. Buyers should be prepared to pay duties based on this value or the sale price, whichever is higher, to comply with local regulations.

Frequently asked questions

What is the current guideline value of Kennadi Street?

The current guideline value of Kennadi Street is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2012 revision, the guideline value has increased from Rs 2,500 per sq.ft to Rs 3,520 per sq.ft in 2024, reflecting a 41% rise over this period.

What are the registration fees for property transactions in Kennadi Street?

The registration fees for property transactions are calculated based on the guideline value. For example, a property valued at Rs 35,20,000 would incur a registration fee of Rs 70,400 at 2%.

Which Sub Registrar Office covers Kennadi Street?

The Pallavaram Sub Registrar Office covers Kennadi Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification of Kennadi Street?

Kennadi Street is classified as Residential Class I Type - I, indicating its suitability for residential development.