Guideline Value for KENNEDY NAGAR 5TH STREET

Kennedy Nagar 5th Street guideline value

The current guideline value of Kennedy Nagar 5th 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 falls under the Residential Class V Type - I land classification.

How the guideline value of Kennedy Nagar 5th Street has changed

The guideline value for Kennedy Nagar 5th Street has seen several revisions over the years. In 2007, the value was set at Rs 500 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012, marking a 200% rise. However, it then decreased to Rs 1,005 per sq.ft in 2017, reflecting a decline of 33%. The value rose again to Rs 1,500 per sq.ft in 2023, before reaching the current figure of Rs 1,600 per sq.ft in 2024, which is a 7% increase from the previous year. The register has no figure for this street in 2002 and 2003.

Overall, from 2007 to 2024, the guideline value has increased by 220%. The rise from Rs 1,005 per sq.ft in 2017 to Rs 1,600 per sq.ft in 2024 represents a substantial increase of 49% over this period.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that have a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value for Kennedy Nagar 5th Street is below this median.

• Kennedy Nagar 4th Street: Rs 1,600 per sq.ft (2024)
• Kennedy Nagar 6th Street: Rs 1,600 per sq.ft (2024)
• Kennedy Nagar 3rd Street: Rs 1,600 per sq.ft (2024)
• Kennedy Nagar (John Kennedy Nagar): Rs 1,600 per sq.ft (2024)
• Kennedy Nagar 2nd Street: Rs 1,600 per sq.ft (2024)
• Kennedy Nagar 1st Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Kennedy Nagar 5th 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, bringing the total to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kennedy Nagar 5th Street?

The Sub Registrar Office that covers Kennedy Nagar 5th Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Perambur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction process. Buyers and sellers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for ensuring compliance with local regulations and for accurately estimating the costs associated with property transactions in the area.

Frequently asked questions

What is the current guideline value of Kennedy Nagar 5th Street?

The current guideline value of Kennedy Nagar 5th 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 an overall increase of 220% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Which Sub Registrar Office covers Kennedy Nagar 5th Street?

The Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, covers Kennedy Nagar 5th Street.

What is the land classification for Kennedy Nagar 5th Street?

Kennedy Nagar 5th Street falls under the Residential Class V Type - I land classification.