Guideline Value for Kennady Street

Kennady Street guideline value

The current guideline value of Kennady Street is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village and falls under the Ambattur SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Kennady Street has changed

The guideline value for Kennady Street has seen several revisions over the years. In 2002, the guideline value was Rs 178 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2007. The value then rose dramatically by 340% to reach Rs 2,200 per sq.ft in 2012. However, it decreased by 33% to Rs 1,474 per sq.ft in 2017. The value then increased by 49% to Rs 2,200 per sq.ft in 2023, before reaching the current value of Rs 2,400 per sq.ft in the 2024 revision, marking a 9% increase from the previous year. The register has no figure for this street in 2003.

Overall, from 2002 to 2024, the guideline value has increased by 1248%. This reflects the changes in property valuation over the years, showcasing the fluctuations in the guideline value per sq.ft for Kennady Street.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Kennady Street's 2024 figure above that median.

• Kesavapillai Koil Street: Rs 1,800 per sq.ft (2024)
• Kaveri Street: Rs 2,400 per sq.ft (2024)
• Kattabomman Street (Gandhi Nagar): Rs 1,800 per sq.ft (2024)
• Kasthuribai Street: Rs 1,600 per sq.ft (2024)
• Koil Cross Street: Rs 1,800 per sq.ft (2024)
• Koil Street (Gandhi Nagar): Rs 1,800 per sq.ft (2024)

Stamp duty and registration fee for property in Kennady Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value would be Rs 24,00,000. The stamp duty at 7% would amount to Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, bringing the total fees to Rs 2,16,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kennady Street?

The Sub Registrar Office that covers Kennady Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Oragadam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that these costs are calculated based on the official valuation set by the government.

When buying or selling property, the guideline value helps in establishing a fair price for the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations and to avoid any potential legal issues during the registration process.

Frequently asked questions

What is the current guideline value of Kennady Street?

The current guideline value of Kennady Street is Rs 2,400 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 178 per sq.ft in 2002 to Rs 2,400 per sq.ft in 2024, reflecting an overall increase of 1248% over the years.

What is the land classification for Kennady Street?

The land classification for Kennady Street is Residential Special Type - I, indicating its designated use for residential purposes.

Where is the Ambattur Sub Registrar Office located?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for properties in Kennady Street?

Stamp duty for properties in Kennady Street is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 24,00,000, leading to a stamp duty of Rs 1,68,000.