Guideline Value for Kennedy St

Kennedy St guideline value

The current guideline value of Kennedy St in Chitlapakkam village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - III.

How the guideline value of Kennedy St has changed

The guideline value for Kennedy St has seen several revisions over the years. The earliest recorded figure is from 2012, where the value was Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in 2017. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, and then further rose to Rs 1,650 per sq.ft in 2024, marking a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for Kennedy St. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft, with the median value being Rs 1,650 per sq.ft. Kennedy St's 2024 figure aligns with this median.

• Kirupanandavariyar Street: Rs 1,650 per sq.ft (2024)
• Kaviarasu Kannadasan Street: Rs 1,650 per sq.ft (2024)
• Kaveri Street: Rs 1,650 per sq.ft (2024)
• Kasthuribai Street: Rs 1,650 per sq.ft (2024)
• Karunanithi St: Rs 1,650 per sq.ft (2024)
• Kousik Avenue: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Kennedy St

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kennedy St?

The Sub Registrar Office covering Kennedy St is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Chitlapakkam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Kennedy St?

The current guideline value of Kennedy St is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification of Kennedy St?

Kennedy St is classified as Residential Class I Type - III, which indicates its suitability for residential development.

Where can I find the Sub Registrar Office for Kennedy St?

The Sub Registrar Office for Kennedy St is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for properties in Chitlapakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 16,50,000, the stamp duty would be calculated at 7% of that amount.