Guideline Value for Kennady Square 3rd Street

Kennady Square 3rd Street guideline value

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

Over the years, the guideline value of Kennady Square 3rd Street has seen significant changes. In 2002, the guideline 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 jumped to Rs 3,500 per sq.ft in 2012, reflecting a 151% increase. However, between 2012 and 2017, the value decreased to Rs 2,345 per sq.ft, a decline of 33%. The guideline value 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 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, 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. Kennady Square 3rd Street's 2024 guideline value is above this median.

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

Stamp duty and registration fee for property in Kennady Square 3rd 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 be Rs 2,66,000, and 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 duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kennady Square 3rd Street?

The Sub Registrar Office that covers Kennady Square 3rd 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 when buying or selling property in Sembiam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

When a property is registered, the guideline value is used to determine the applicable fees, which are charged on the higher of the guideline value or the sale price. This ensures that the registration reflects the true value of the property being transacted.

Frequently asked questions

What is the current guideline value of Kennady Square 3rd Street?

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

What is the stamp duty rate for property in Kennady Square 3rd Street?

The stamp duty rate for property in Kennady Square 3rd 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 median guideline value for streets in Sembiam?

The median guideline value for streets in Sembiam is Rs 2,700 per sq.ft, while Kennady Square 3rd Street's value is above this median.