Guideline Value for KENNADY VELI MAIN SALAI

Kennady Veli Main Salai guideline value

The current guideline value of Kennady Veli Main Salai is Rs 1,940 per sq.ft, effective from 1 July 2024. This street is located in Thirusulam village under the Pallavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Kennady Veli Main Salai has changed

The guideline value for Kennady Veli Main Salai has seen several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which was then reduced to Rs 1,206 per sq.ft in 2017. Following this, the 2023 revision increased it to Rs 1,800 per sq.ft, and the current 2024 revision has raised it further to Rs 1,940 per sq.ft.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%. The overall change from 2012 to 2024 shows a modest increase of 8%. The guideline value has thus changed from Rs 1,800 in 2012 to Rs 1,940 in 2024.

Guideline values in Thirusulam

In Thirusulam, there are 74 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,080 to Rs 2,750 per sq.ft. The median value is Rs 1,940 per sq.ft, which is equal to the current guideline value of Kennady Veli Main Salai.

• Kennady Valley 1 to 3 Cross Streets: Rs 2,200 per sq.ft (2024)
• Kennady Valley: Rs 2,200 per sq.ft (2024)
• Kodi Malar Street: Rs 2,200 per sq.ft (2024)
• Kannabiran Koil Street Ext: Rs 2,200 per sq.ft (2024)
• Kannabiran Koil Street: Rs 2,200 per sq.ft (2024)
• Kannabiran Koil 1 To 2 Streets: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kennady Veli Main Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 1,940 per sq.ft, the total guideline value amounts to Rs 19,40,000. The stamp duty at 7% would be Rs 1,35,800, and the registration fee at 2% would be Rs 38,800, leading to a total of Rs 1,74,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your stamp duty and registration fees using our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kennady Veli Main Salai?

The Sub Registrar Office covering Kennady Veli Main Salai 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 Thirusulam

The guideline value is a critical factor in the registration of property transactions in Thirusulam. When buying or selling property, the guideline value serves as a benchmark for calculating the stamp duty and registration fees, ensuring that all transactions are recorded accurately.

During the registration process, the buyer must pay the applicable stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kennady Veli Main Salai?

The current guideline value of Kennady Veli Main Salai is Rs 1,940 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 in 2012 to Rs 1,206 in 2017, then back to Rs 1,800 in 2023, and finally to Rs 1,940 in 2024. This reflects an overall increase of 8% from 2012 to 2024.

What is the land classification for Kennady Veli Main Salai?

Kennady Veli Main Salai is classified as Residential Class II Type - I, indicating its suitability for residential development.

What are the stamp duty rates in Thirusulam?

The stamp duty rate in Thirusulam is 7%, while the registration fee is 2%. These fees are calculated based on the higher of the guideline value or the sale price of the property.

Where can I find the Pallavaram Sub Registrar Office?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.