Guideline Value for Kennady Square West Street

Kennady Square West Street guideline value

The current guideline value of Kennady Square West 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 it falls under the land classification of Mixed Special Type - I.

How the guideline value of Kennady Square West Street has changed

The guideline value for Kennady Square West Street has seen significant changes over the years. 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, marking a 217% increase. The value then experienced a substantial jump to Rs 3,500 per sq.ft in 2012, reflecting a 151% increase. However, it decreased to Rs 2,345 per sq.ft in 2017, showing a decline of 33%. 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, which represents a 9% increase.

Overall, from 2002 to 2024, the guideline value has increased by 836%. There are no figures available for the revisions in years other than those listed.

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 West Street is above this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty, charged at 7%, would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total fees 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.

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

Which Sub Registrar Office covers Kennady Square West Street?

The Sub Registrar Office covering Kennady Square West 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 is a crucial factor in the registration process when buying or selling property in Sembiam. It determines the amount of stamp duty and registration fees that must be paid, which are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value helps buyers and sellers to accurately assess the costs involved in property transactions. It is essential to refer to the latest figures to ensure compliance with the current regulations.

Frequently asked questions

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

The current guideline value of Kennady Square West 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, marking an overall increase of 836%.

What is the land classification for Kennady Square West Street?

Kennady Square West Street is classified as Mixed Special Type - I, which affects its guideline value and regulatory requirements.

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 the registration of properties in the area.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. For example, on a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 and the registration fee would be Rs 76,000.