Guideline Value for Kennady Valley

Kennady Valley guideline value

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

How the guideline value of Kennady Valley has changed

The guideline value for Kennady Valley has seen significant changes over the years. In 2007, the guideline value was Rs 200 per sq.ft. This increased dramatically to Rs 2,000 per sq.ft in 2012, marking a rise of 900%. However, from 2012 to 2017, there was a decrease of 33%, bringing the value down to Rs 1,340 per sq.ft. The value then rose again to Rs 2,000 per sq.ft in 2023, which was a 49% increase. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 1000%.

Guideline values in Thirusulam

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

• Kennady Valley 1 to 3 Cross Streets: 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

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 amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your own fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kennady Valley?

The Kennady Valley area is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Thirusulam. It is used to determine the stamp duty and registration fees payable when a property is bought or sold. Buyers and sellers should be aware that the guideline value is often considered as the baseline for these calculations.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This is essential for maintaining transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Kennady Valley?

The current guideline value of Kennady Valley 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 increased from Rs 200 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking a total increase of 1000% over this period.

What is the land classification of Kennady Valley?

Kennady Valley is classified as Residential Class II Type - II, indicating its suitability for residential development.

Where can I find the registration office for Kennady Valley?

The registration office covering Kennady Valley is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for properties in Kennady Valley?

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