Guideline Value for Kennady Square North Street

Kennady Square North Street guideline value

The current guideline value of Kennady Square North Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street 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 Street has changed

Over the years, the guideline value of Kennady Square North Street has seen significant changes. The register shows that in 2002, the value was Rs 406 per sq.ft, 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, and then to Rs 3,500 per sq.ft in 2012. However, there was a decrease to Rs 2,345 per sq.ft in 2017. The value then increased to Rs 3,500 per sq.ft in 2023, before reaching the current value of Rs 3,800 per sq.ft in 2024.

The changes between revisions are notable. From 2002 to 2024, the overall increase is 836%. The value rose by 8% from 2002 to 2003, followed by a 217% increase from 2003 to 2007. The value then increased by 151% from 2007 to 2012, but saw a decrease of 33% from 2012 to 2017. There was a significant increase of 49% from 2017 to 2023, and finally, a 9% rise from 2023 to 2024.

Guideline values in Sembiam

In Sembiam village, 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 North Street is above this median.

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

Stamp duty and registration fee for property in Kennady Square North 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, making the total cost Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kennady Square North Street?

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

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

The guideline value is a crucial factor when registering property transactions in Sembiam. It is used to determine the stamp duty and registration fees applicable to the property, ensuring that the transaction is recorded accurately in the official register.

When buying or selling property, the guideline value serves as a reference point for both the buyer and the seller. It helps in establishing a fair basis for the transaction and is essential for compliance with local regulations during the registration process.

Frequently asked questions

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

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

What is the land classification for Kennady Square North Street?

Kennady Square North Street is classified as Mixed Special Type - I under the land classification system.

Where is the Sembiam Sub Registrar Office located?

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

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 38,00,000, the stamp duty at 7% would be Rs 2,66,000.