Guideline Value for Kennady Square East Street

Kennady Square East Street guideline value

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

How the guideline value of Kennady Square East Street has changed

The guideline value for Kennady Square East Street has undergone several revisions over the years. Starting from Rs 406 per sq.ft in 2002, it increased to Rs 440 per sq.ft in 2003. The value saw significant growth, reaching Rs 1,394 per sq.ft in 2007, and then further increasing to Rs 3,500 per sq.ft in 2012. However, it dropped to Rs 2,345 per sq.ft in 2017 before rising again to Rs 3,500 per sq.ft in 2023.

From 2023 to 2024, the guideline value increased by 9% to the current rate of Rs 3,800 per sq.ft. Overall, from 2002 to 2024, the guideline value has increased by 836%, reflecting the changes in the property landscape over the years.

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 East Street's 2024 figure is above this median.

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

Stamp duty and registration fee for property in Kennady Square East 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 amount to Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total to Rs 3,42,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kennady Square East Street?

The Sub Registrar Office that covers Kennady Square East Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Sembiam

The guideline value is an important factor in the registration process when buying or selling property in Sembiam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the transaction is aligned with the established values set by the registration department.

Frequently asked questions

What is the current guideline value of Kennady Square East Street?

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

What is the land classification for Kennady Square East Street?

Kennady Square East Street is classified as Mixed Special Type - I, which is relevant for understanding its usage and development potential.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles registrations for properties in the Sembiam area.

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. The current rate is 7% for stamp duty and 2% for the registration fee, which are applied to the guideline value during the registration process.