Guideline Value for KENNEDY NAGAR 4TH STREET

Kennedy Nagar 4th Street guideline value

The current guideline value of Kennedy Nagar 4th Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, and it falls under the Residential Class V Type - I land classification.

How the guideline value of Kennedy Nagar 4th Street has changed

Over the years, the guideline value of Kennedy Nagar 4th Street has seen several revisions. The earliest available figure is from 2007, where the guideline value was Rs 500 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in 2012, marking a 200% rise. However, the value then dropped to Rs 1,005 per sq.ft in 2017, a decrease of 33%. The value rose again to Rs 1,500 per sq.ft in 2023, and the latest revision in 2024 has set the guideline value at Rs 1,600 per sq.ft, reflecting a 7% increase from the previous year. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, the increase was substantial at 49%, bringing the guideline value to Rs 1,500 per sq.ft. Overall, from 2007 to 2024, the guideline value has increased by 220%, showcasing a significant upward trend in value over the years.

Guideline values in Perambur

In Perambur village, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, which means that Kennedy Nagar 4th Street's 2024 guideline value is below this median.

• Kennedy Nagar 3rd Street: Rs 1,600 per sq.ft (2024)
• Kennedy Nagar 5th Street: Rs 1,600 per sq.ft (2024)
• Kennedy Nagar 2nd Street: Rs 1,600 per sq.ft (2024)
• Kennedy Nagar 6th Street: Rs 1,600 per sq.ft (2024)
• Kennedy Nagar 1st Street: Rs 1,600 per sq.ft (2024)
• Kennedy Nagar (John Kennedy Nagar): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Kennedy Nagar 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, making the total cost for these fees Rs 1,44,000. 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 detailed calculations based on your specific property.

Which Sub Registrar Office covers Kennedy Nagar 4th Street?

The Sub Registrar Office that covers Kennedy Nagar 4th Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Perambur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Kennedy Nagar 4th Street?

The current guideline value of Kennedy Nagar 4th Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, reflecting a total increase of 220% over the years.

What is the median guideline value for streets in Perambur?

The median guideline value for streets in Perambur is Rs 2,700 per sq.ft, which is higher than the current value of Kennedy Nagar 4th Street.

What are the stamp duty rates for property transactions?

The stamp duty rate for property transactions is 7%, and the registration fee is 2% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Kennedy Nagar 4th Street located?

The Sub Registrar Office covering Kennedy Nagar 4th Street is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.