Guideline Value for Kennady Square 2nd Cross Street

Kennady Square 2nd Cross Street guideline value

The current guideline value of Kennady Square 2nd 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, and is classified as Mixed Special Type - I.

How the guideline value of Kennady Square 2nd Cross Street has changed

The guideline value for Kennady Square 2nd Cross Street has seen several revisions over the years. The earliest recorded figure is from 2002, where it was Rs 406 per sq.ft. This value increased significantly to Rs 1,394 per sq.ft in 2007, marking a rise of 243%. In 2012, the value was Rs 3,500 per sq.ft, which represented a decrease of 33% from the previous revision. The value then rose to Rs 2,345 per sq.ft in 2017, an increase of 49% from 2012. The 2023 revision set the value at Rs 3,500 per sq.ft, and the latest revision in 2024 increased it to Rs 3,800 per sq.ft, reflecting a change of 9%.

It is important to note that there is no figure available for Kennady Square 2nd Cross Street in the 2003 revision. Overall, from 2002 to 2024, the guideline value has increased by 836%.

Guideline values in Sembiam

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

• Kennady Square 1st Street: Rs 3,800 per sq.ft (2024)
• Kennady Square 2nd Street: Rs 3,800 per sq.ft (2024)
• Kennady Square 1st Cross 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 2nd 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, and the registration fee at 2% would be Rs 76,000, bringing the total fees 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.

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

Which Sub Registrar Office covers Kennady Square 2nd Cross Street?

The Sembiam Sub Registrar Office covers Kennady Square 2nd Cross Street, 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 is a crucial factor when buying or selling property in Sembiam. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers should be aware that the guideline value is used to calculate the stamp duty and registration fees during the transaction.

When a property is sold, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kennady Square 2nd Cross Street?

The current guideline value of Kennady Square 2nd 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 increased from Rs 406 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, marking an overall increase of 836% over the years.

What is the registration office for Kennady Square 2nd Cross Street?

The registration office for Kennady Square 2nd Cross Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Sembiam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 38,00,000, the stamp duty would be 7% of that amount.

What are the other streets in Sembiam with similar guideline values?

Other streets in Sembiam with a guideline value of Rs 3,800 per sq.ft in 2024 include Kennady Square 1st Street, Kennady Square 2nd Street, Kennady Square 1st Cross Street, Kennady Square 3rd Cross Street, Kennady Square 3rd Street, and Kennady Square 4th Street.