Guideline Value for Kennady Square West Main Road

Kennady Square West Main Road guideline value

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

Over the years, the guideline value for Kennady Square West Main Road has seen significant changes. In 2002, the guideline value was Rs 406 per sq.ft, which increased to Rs 440 per sq.ft in 2003. The value then rose dramatically to Rs 1,394 per sq.ft in 2007, followed by a substantial increase to Rs 3,500 per sq.ft in 2012. However, there was a decrease to Rs 2,345 per sq.ft in 2017. The guideline value then rose 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 these revisions are noteworthy. From 2002 to 2003, there was an increase of 8%. The value surged by 217% from 2003 to 2007, followed by a 151% rise from 2007 to 2012. The value then decreased by 33% from 2012 to 2017, and increased by 49% from 2017 to 2023. The most recent revision from 2023 to 2024 reflects a 9% increase. 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 of Kennady Square West Main Road is above this median.

• Kennady Square South Street: Rs 3,800 per sq.ft (2024)
• Kennady Square West Street: Rs 3,800 per sq.ft (2024)
• Kennady Square South Main Road: Rs 3,800 per sq.ft (2024)
• Kennady Square North 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 West 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, charged at 7%, would amount to Rs 2,66,000, while the registration fee at 2% would be Rs 76,000. Together, these fees would total 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 also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kennady Square West Main Road?

The Sub Registrar Office that covers Kennady Square West 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 crucial factor when registering property transactions in Sembiam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that all transactions are conducted transparently and fairly, reflecting the established values in the area.

Frequently asked questions

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

The current guideline value of Kennady Square West 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 this period.

What is the land classification for Kennady Square West Main Road?

Kennady Square West Main Road is classified as Mixed Special Type - I, indicating its diverse usage potential.

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

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, for a 1,000 sq.ft plot, the total fees would be Rs 3,42,000.

Where is the Sub Registrar Office located for Kennady Square West Main Road?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011, and it handles registrations for properties in this area.