Guideline Value for Kennady Square 2nd Street

Kennady Square 2nd Street guideline value

The current guideline value of Kennady Square 2nd Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village under the Sembiam SRO, classified as Mixed Special Type - I.

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

Since 2002, the guideline value for Kennady Square 2nd Street has seen significant changes. In 2002, the value was Rs 406 per sq.ft, which increased to Rs 1,394 per sq.ft in 2007, marking a rise of 243%. The value then rose to Rs 3,500 per sq.ft in 2012, showing an increase of 151%. However, from 2012 to 2017, the value decreased to Rs 2,345 per sq.ft, reflecting a decline of 33%. The value then rose substantially to Rs 3,500 per sq.ft in 2023, a 49% increase. The most recent revision in 2024 has set the guideline value at Rs 3,800 per sq.ft, which is a 9% increase from the previous year.

It is important to note that there is no figure available for the year 2003 in the register for this street. 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 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 2nd Street is above this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total 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 Street?

The Sub Registrar Office that covers Kennady Square 2nd 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 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 costs are based on a standardized valuation.

It is essential for buyers and sellers to be aware of the guideline value as it affects the overall cost of property transactions. The guideline value is updated periodically, reflecting changes in the real estate market and local regulations.

Frequently asked questions

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

The current guideline value of Kennady Square 2nd 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, showing an overall increase of 836%.

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

Several other streets in Sembiam have the same guideline value of Rs 3,800 per sq.ft for 2024, including Kennady Square 1st Street, 2nd Cross Street, 3rd Cross Street, 3rd Street, 1st Cross Street, and 4th Street.

What is the stamp duty rate for property in Kennady Square 2nd Street?

The stamp duty rate for property transactions in Kennady Square 2nd Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sembiam Sub Registrar Office?

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