Guideline Value for Kennady Square East Main Road

Kennady Square East Main Road guideline value

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

How the guideline value of Kennady Square East Main Road has changed

The guideline value for Kennady Square East Main Road has seen several revisions over the years. In 2002, the value was Rs 406 per sq.ft. This increased to Rs 440 per sq.ft in 2003, marking an 8% rise. The value continued to rise significantly, reaching Rs 1,394 per sq.ft in 2007, which was a 217% increase from the previous year. By 2012, the value was Rs 3,500 per sq.ft, showing a 151% increase from 2007, but a decrease of 33% from the previous revision.

In 2017, the guideline value was set at Rs 2,345 per sq.ft, reflecting a 49% increase from 2012. The most recent revision in 2023 established the value at Rs 3,500 per sq.ft, and the current value of Rs 3,800 per sq.ft in 2024 represents a 9% increase from the previous year.

Guideline values in Sembiam

Within Sembiam village, there are 250 streets under the Sembiam SRO with a 2024 guideline value 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 Kennady Square East Main Road above this median.

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

Stamp duty and registration fee for property in Kennady Square East Main Road

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, while the registration fee at 2% would be Rs 76,000, resulting in a total of Rs 3,42,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kennady Square East Main Road?

The Sub Registrar Office that covers Kennady Square East Main Road 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 when registering property transactions in Sembiam. It serves as a benchmark for determining the stamp duty and registration fees payable during the transfer of property ownership. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations.

When a property is bought or sold, the guideline value is assessed to calculate the applicable fees. This ensures that the transaction is recorded accurately and that all parties involved are aware of their financial obligations based on the established guideline value.

Frequently asked questions

What is the current guideline value of Kennady Square East Main Road?

The current guideline value of Kennady Square East Main Road 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, reflecting an overall increase of 836% over this period.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 3,42,000.

Where is the Sembiam Sub Registrar Office located?

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

How does the guideline value affect property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It is essential for buyers and sellers to understand this value to ensure proper compliance with local regulations.