Guideline Value for Kennady Square 1st Street

Kennady Square 1st Street guideline value

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

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

The guideline value for Kennady Square 1st Street has seen several revisions over the years. In 2002, the value was Rs 406 per sq.ft, which increased significantly to Rs 1,394 per sq.ft in 2007, marking a rise of 243%. Following this, the value jumped to Rs 3,500 per sq.ft in 2012, reflecting a 151% increase. However, by 2017, the value decreased to Rs 2,345 per sq.ft, a decline of 33%. The value then rose again to Rs 3,500 per sq.ft in 2023, and most recently, it has increased to Rs 3,800 per sq.ft in 2024, representing a 9% increase.

It is important to note that there is no guideline value recorded for Kennady Square 1st Street in the 2003 revision. Overall, from 2002 to 2024, the guideline value has increased by 836%.

Guideline values in Sembiam

In Sembiam village, there are 250 streets under the Sembiam SRO that have 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 Street is above this median.

• Kennady Square 1st Cross 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 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, and the registration fee at 2% would be Rs 76,000. Together, the total cost for these charges would be 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.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kennady Square 1st Street?

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

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

The guideline value plays a crucial role in the registration process of property transactions in Sembiam. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these charges are calculated based on a standardized valuation.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial aspects of property transactions. Accurate knowledge of these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

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

The current guideline value of Kennady Square 1st 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 from Rs 406 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 836% over the years.

What are the other streets with the same guideline value in Sembiam?

Other streets in Sembiam with the same guideline value of Rs 3,800 per sq.ft include Kennady Square 1st Cross Street, Kennady Square 2nd Cross Street, Kennady Square 2nd Street, Kennady Square 3rd Cross Street, Kennady Square 3rd Street, and Kennady Square 4th Street.

What is the registration fee for property in Kennady Square 1st Street?

The registration fee for property in Kennady Square 1st Street is 2% of the guideline value. For example, for a property valued at Rs 38,00,000, the registration fee would be Rs 76,000.

Where is the Sub Registrar Office for Kennady Square 1st Street located?

The Sub Registrar Office for Kennady Square 1st Street is located at 5, Papermills Road, Sembiam, Chennai - 600011.