Guideline Value for Kennady Square North Main Road

Kennady Square North Main Road guideline value

The current guideline value of Kennady Square North 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 North Main Road has changed

Over the years, the guideline value for Kennady Square North Main Road has seen significant changes. The earliest recorded figure is Rs 406 per sq.ft in 2002, which increased to Rs 440 per sq.ft in 2003. Following this, the value rose dramatically to Rs 1,394 per sq.ft in 2007. In 2012, the value remained at Rs 3,500 per sq.ft, but by 2017, it had decreased to Rs 2,345 per sq.ft. The value then rose to Rs 3,500 per sq.ft in 2023, before reaching the current figure of Rs 3,800 per sq.ft in 2024.

In terms of percentage changes, the guideline value increased by 9% from 2023 to 2024, and there was a notable 49% increase from 2017 to 2023. However, there was a decrease of 33% from 2012 to 2017. The value surged by 151% from 2007 to 2012 and saw a significant increase of 217% from 2003 to 2007. 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 for Kennady Square North Main Road is above this median.

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

Stamp duty and registration fee for property in Kennady Square North 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, and the registration fee at 2% would be Rs 76,000, making the total cost for these fees 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 details on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kennady Square North Main Road?

The Sub Registrar Office that covers Kennady Square North 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 an essential factor when registering property transactions in Sembiam. It serves as a reference point for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the fees reflect the true value of the property being transacted.

Frequently asked questions

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

The current guideline value of Kennady Square North 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 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 the years.

What are the stamp duty rates for property transactions in Sembiam?

The stamp duty rate for property transactions in Sembiam is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sembiam Sub Registrar Office?

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

What is the land classification of Kennady Square North Main Road?

Kennady Square North Main Road is classified as Mixed Special Type - I, which influences its guideline value and property transactions in the area.