Guideline Value for Kennady Square 3rd Cross Street

Kennady Square 3rd Cross Street guideline value

The current guideline value of Kennady Square 3rd 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 3rd Cross Street has changed

Since the 2002 revision, the guideline value for Kennady Square 3rd Cross 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 substantial rise of 243%. The value then jumped to Rs 3,500 per sq.ft in 2012, a 151% increase from the previous revision. However, it decreased to Rs 2,345 per sq.ft in 2017, reflecting a decline of 33%. The value rebounded to Rs 3,500 per sq.ft in 2023, and with the latest revision in 2024, it stands at Rs 3,800 per sq.ft, showing a 9% increase from the previous year.

It is important to note that there is no figure available for the year 2003 for this street. 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 guideline values ranging from Rs 1,700 to Rs 7,100 per sq.ft. The median value is Rs 2,700 per sq.ft, placing Kennady Square 3rd Cross Street's 2024 figure above that 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 2nd 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)
• Kennady Square East Main Road: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Kennady Square 3rd Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 3,800 per sq.ft, the 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, totaling 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 the stamp duty and registration fee calculator for more specific calculations.

Which Sub Registrar Office covers Kennady Square 3rd Cross Street?

The Sub Registrar Office that covers Kennady Square 3rd Cross 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 is a critical factor during property registration in Sembiam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property transaction. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. 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 3rd Cross Street?

The current guideline value of Kennady Square 3rd 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, marking an overall increase of 836% over the years.

What is the land classification of Kennady Square 3rd Cross Street?

Kennady Square 3rd Cross Street is classified as Mixed Special Type - I.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is 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, a property with a guideline value of Rs 38,00,000 would incur a stamp duty of Rs 2,66,000 at 7%.