Guideline Value for Kennady Valley 1 to 3 Cross Streets

Kennady Valley 1 to 3 Cross Streets guideline value

The current guideline value for Kennady Valley 1 to 3 Cross Streets is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Thirusulam village, under the Pallavaram SRO, and is classified as Residential Class II Type - II.

How the guideline value of Kennady Valley 1 to 3 Cross Streets has changed

The guideline value for Kennady Valley 1 to 3 Cross Streets has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 200 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in 2012, marking a 900% rise. However, in 2017, the value decreased to Rs 1,340 per sq.ft, a drop of 33%. The value then increased to Rs 2,000 per sq.ft in 2023, and the latest revision in 2024 has set the value at Rs 2,200 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 1000%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Thirusulam

In Thirusulam, there are 74 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 1,080 to Rs 2,750 per sq.ft. The median value for these streets is Rs 1,940 per sq.ft, placing the 2024 guideline value for Kennady Valley 1 to 3 Cross Streets above this median.

• Kennady Valley: Rs 2,200 per sq.ft (2024)
• Kennady Veli Main Salai: Rs 1,940 per sq.ft (2024)
• Kodi Malar Street: Rs 2,200 per sq.ft (2024)
• Kannabiran Koil Street Ext: Rs 2,200 per sq.ft (2024)
• Kannabiran Koil Street: Rs 2,200 per sq.ft (2024)
• Kannabiran Koil 1 To 2 Streets: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kennady Valley 1 to 3 Cross Streets

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator to estimate your costs.

Which Sub Registrar Office covers Kennady Valley 1 to 3 Cross Streets?

The Kennady Valley 1 to 3 Cross Streets are covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is essential for property transactions in Thirusulam, as it determines the minimum value at which a property can be registered. When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees that must be paid at the time of registration.

It is crucial for buyers and sellers to be aware of the guideline value, as it can affect the overall costs of the transaction. Ensuring that the property is registered at the correct guideline value helps in maintaining compliance with local regulations.

Frequently asked questions

What is the current guideline value for Kennady Valley 1 to 3 Cross Streets?

The current guideline value for Kennady Valley 1 to 3 Cross Streets is Rs 2,200 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 200 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 1000% over the years.

What is the land classification for this area?

The land classification for Kennady Valley 1 to 3 Cross Streets is Residential Class II Type - II.

Where can I find the Sub Registrar Office for this area?

The Pallavaram Sub Registrar Office covers Kennady Valley 1 to 3 Cross Streets, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at 7%.