Guideline Value for Kennedy Street (Naidu Shop Street)

Kennedy Street (Naidu Shop Street) guideline value

The current guideline value of Kennedy Street (Naidu Shop Street) is Rs 3,520 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village, under the Pallavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Kennedy Street (Naidu Shop Street) has changed

The guideline value of Kennedy Street has undergone several revisions over the years. In 2003, the guideline value was Rs 554 per sq.ft. This value saw a significant increase to Rs 800 per sq.ft in 2007, marking a rise of 44%. The value then surged by 300% to reach Rs 3,200 per sq.ft in 2012. However, it decreased by 33% to Rs 2,144 per sq.ft in 2017. The 2023 revision set the value at Rs 3,200 per sq.ft, which was then increased by 10% to Rs 3,520 per sq.ft in the 2024 revision.

It is important to note that the register has no figure for Kennedy Street in 2002. Overall, from 2003 to 2024, the guideline value has increased by 535%.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft as per the 2024 revision. The median value for these streets is Rs 3,300 per sq.ft, placing Kennedy Street's 2024 figure above this median.

• Kennadi Street: Rs 3,520 per sq.ft (2024)
• Katvindhan Street: Rs 2,750 per sq.ft (2024)
• Kattabomman Street: Rs 3,850 per sq.ft (2024)
• Kolappan Street: Rs 3,300 per sq.ft (2024)
• Kollanchavadi: Rs 2,750 per sq.ft (2024)
• Kasthuribai Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kennedy Street (Naidu Shop Street)

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, totaling Rs 3,16,800. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kennedy Street (Naidu Shop Street)?

The Sub Registrar Office that covers Kennedy Street (Naidu Shop Street) is 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 Zaminpallavaram

The guideline value plays a crucial role during the registration of property transactions in Zaminpallavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded accurately. Buyers and sellers must be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Kennedy Street (Naidu Shop Street)?

The current guideline value of Kennedy Street (Naidu Shop Street) is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 554 per sq.ft in 2003 to Rs 3,520 per sq.ft in 2024, with several revisions in between, including a notable increase of 300% from 2007 to 2012.

What is the land classification of Kennedy Street (Naidu Shop Street)?

Kennedy Street (Naidu Shop Street) is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Kennedy Street (Naidu Shop Street)?

The Sub Registrar Office for Kennedy Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Kennedy Street?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 35,20,000, the stamp duty would be Rs 2,46,400.