Guideline Value for Kennady Square South Street

Kennady Square South Street guideline value

The current guideline value of Kennady Square South 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 land.

How the guideline value of Kennady Square South Street has changed

The guideline value for Kennady Square South Street has undergone several revisions over the years. In 2002, the value was Rs 406 per sq.ft, which increased to Rs 440 per sq.ft in 2003. The subsequent revisions saw a significant rise, with the value reaching Rs 1,394 per sq.ft in 2007 and then Rs 3,500 per sq.ft in 2012. However, it dropped to Rs 2,345 per sq.ft in 2017, before climbing to Rs 3,500 per sq.ft in 2023. The latest revision in 2024 set the value at Rs 3,800 per sq.ft.

Notably, the changes between these revisions show a 9% increase from 2023 to 2024, a 49% increase from 2017 to 2023, a 33% decrease from 2012 to 2017, a 151% increase from 2007 to 2012, a 217% increase from 2003 to 2007, and an 8% increase from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by 836%. There are no figures available for revisions in years not listed.

Guideline values in Sembiam

In 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 South Street's 2024 figure above that median.

• Kennady Square South Main Road: Rs 3,800 per sq.ft (2024)
• Kennady Square West Main Road: Rs 3,800 per sq.ft (2024)
• Kennady Square North Street: Rs 3,800 per sq.ft (2024)
• Kennady Square West Street: Rs 3,800 per sq.ft (2024)
• Kennady Square North Main Road: 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 South 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. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Kennady Square South Street?

The Sub Registrar Office that covers Kennady Square South 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 plays a crucial role in property transactions in Sembiam. It is used to determine the amount of stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the registration process.

When purchasing property, the guideline value ensures that the transaction is recorded accurately, reflecting the fair value of the property. This helps maintain transparency in property dealings and ensures that the correct taxes are collected by the government.

Frequently asked questions

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

The current guideline value of Kennady Square South 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 are the stamp duty rates for property in Kennady Square South Street?

The stamp duty for property transactions in Kennady Square South Street is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Sembiam Sub Registrar Office located?

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

What is the land classification for Kennady Square South Street?

Kennady Square South Street is classified as Mixed Special Type - I land, which reflects its intended use and development potential.