Guideline Value for Kennady Square 1st Cross Street

Kennady Square 1st Cross Street guideline value

The current guideline value of Kennady Square 1st Cross Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village, under the Sembiam SRO, with a land classification of Mixed Special Type - I.

How the guideline value of Kennady Square 1st Cross Street has changed

The guideline value for Kennady Square 1st Cross Street has undergone several revisions over the years. Starting from Rs 406 per sq.ft in 2002, it increased significantly to Rs 1,394 per sq.ft in 2007, marking a rise of 243%. The 2012 revision saw the value remain at Rs 3,500 per sq.ft, followed by a decrease to Rs 2,345 per sq.ft in 2017, a drop of 33%. The next revision in 2023 raised it to Rs 3,500 per sq.ft, and the most recent revision in 2024 set it at Rs 3,800 per sq.ft, reflecting a 9% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has risen by 836%. It is important to note that there is no figure available for the year 2003 in the register for this street.

Guideline values in Sembiam

In Sembiam, there are 250 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value for Kennady Square 1st Cross Street is above this median.

• Kennady Square 1st Street: Rs 3,800 per sq.ft (2024)
• Kennady Square 2nd Cross Street: Rs 3,800 per sq.ft (2024)
• Kennady Square 2nd Street: Rs 3,800 per sq.ft (2024)
• Kennady Square 3rd Cross Street: Rs 3,800 per sq.ft (2024)
• Kennady Square 3rd Street: Rs 3,800 per sq.ft (2024)
• Kennady Square 4th Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Kennady Square 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, while the registration fee at 2% would be Rs 76,000, bringing the total fees together to Rs 3,42,000. 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 Kennady Square 1st Cross Street?

The Sub Registrar Office that covers Kennady Square 1st Cross Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Sembiam. It serves as a reference point for determining the applicable stamp duty and registration fees, ensuring that these costs are calculated based on the established values.

When a property transaction occurs, the guideline value is used to assess the minimum value for taxation purposes. This ensures that both buyers and sellers are aware of the financial obligations associated with the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Kennady Square 1st Cross Street?

The current guideline value of Kennady Square 1st Cross Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 406 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 836% over this period.

What is the stamp duty for property in Kennady Square 1st Cross Street?

The stamp duty for property in Kennady Square 1st Cross Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification for Kennady Square 1st Cross Street?

The land classification for Kennady Square 1st Cross Street is Mixed Special Type - I.