Guideline Value for Kennady Square 4th Street

Kennady Square 4th Street guideline value

The current guideline value of Kennady Square 4th Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village, under the Sembiam SRO, with a land classification of Mixed Special Type - I.

How the guideline value of Kennady Square 4th Street has changed

Since the 2002 revision, the guideline value 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. This was a substantial rise of 243%. The value then jumped to Rs 3,500 per sq.ft in 2012, marking an increase of 151%. However, it dropped to Rs 2,345 per sq.ft in 2017, reflecting a decrease of 33%. The value rose again to Rs 3,500 per sq.ft in 2023, and most recently, it increased by 9% to Rs 3,800 per sq.ft in 2024.

There is no figure available for Kennady Square 4th 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 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 of Kennady Square 4th Street is above this median.

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

Stamp duty and registration fee for property in Kennady Square 4th 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 fees to Rs 3,42,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kennady Square 4th Street?

The Sub Registrar Office that covers Kennady Square 4th 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 an essential factor when registering property transactions in Sembiam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is crucial to note that the stamp duty is charged on the higher of the guideline value and the sale price, ensuring compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Kennady Square 4th Street?

The current guideline value of Kennady Square 4th 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 significantly from Rs 406 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 836% over this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 and the registration fee would be Rs 76,000, totaling Rs 3,42,000.

Which office handles property registrations for Kennady Square 4th Street?

The Sembiam Sub Registrar Office handles property registrations for Kennady Square 4th Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the significance of the guideline value when buying property?

The guideline value is used as a benchmark for property registration, ensuring that the appropriate stamp duty and registration fees are collected. It helps both buyers and sellers understand the official valuation of the property.