Guideline Value for KENNEDY NAGAR(JOHN KENNEDY NAGAR)

Kennedy Nagar(John Kennedy Nagar) guideline value

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

How the guideline value of Kennedy Nagar(John Kennedy Nagar) has changed

The guideline value for Kennedy Nagar(John Kennedy Nagar) has undergone several revisions over the years. In 2002, the guideline value was Rs 336 per sq.ft, which increased to Rs 369 per sq.ft in 2003. Following this, there was a significant rise to Rs 500 per sq.ft in 2007, and then it jumped to Rs 1,500 per sq.ft in 2012. However, it saw a decrease to Rs 1,005 per sq.ft in 2017. The value then increased to Rs 1,500 per sq.ft in 2023, and the most recent revision in 2024 set it at Rs 1,600 per sq.ft.

In terms of percentage changes, from 2002 to 2024, there has been an overall increase of 376%. The increase from 2017 to 2023 was 49%, while the value decreased by 33% from 2012 to 2017. There was a notable increase of 200% from 2007 to 2012, and from 2003 to 2007, the increase was 36%. Additionally, there was a 10% rise from 2002 to 2003. The change from 2023 to 2024 was 7%.

Guideline values in Perambur

In Perambur village, 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(John Kennedy Nagar) is below this median.

• Kennedy Nagar 6th Street: Rs 1,600 per sq.ft (2024)
• Kennedy Nagar 5th Street: Rs 1,600 per sq.ft (2024)
• Kennedy Nagar 4th Street: Rs 1,600 per sq.ft (2024)
• Kennedy Nagar 3rd Street: 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(John Kennedy Nagar)

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 charges 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.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kennedy Nagar(John Kennedy Nagar)?

The Sub Registrar Office that covers Kennedy Nagar(John Kennedy Nagar) 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 is a crucial factor when registering property transactions in Perambur. It serves as a benchmark for determining the minimum value at which a property can be sold or bought, ensuring that the transaction is recorded accurately in the official register.

When you buy or sell property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate dues based on the property's value, which is essential for maintaining transparency in real estate transactions.

Frequently asked questions

What is the current guideline value of Kennedy Nagar(John Kennedy Nagar)?

The current guideline value of Kennedy Nagar(John Kennedy Nagar) 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 336 per sq.ft in 2002 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of 376% over the years.

What is the median guideline value in Perambur?

The median guideline value in Perambur is Rs 2,700 per sq.ft, while Kennedy Nagar(John Kennedy Nagar) has a guideline value below this median.

What are the stamp duty rates for property transactions?

The stamp duty rate for property transactions in Kennedy Nagar(John Kennedy Nagar) is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Kennedy Nagar(John Kennedy Nagar)?

The Sub Registrar Office for Kennedy Nagar(John Kennedy Nagar) is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.