Guideline Value for Kennedy Street

Kennedy Street guideline value

The current guideline value of Kennedy Street in Padiyanallur village is Rs 770 per sq.ft, effective from 1 July 2024. This street falls under the Redhills SRO and is classified as Residential Class I Type - I.

How the guideline value of Kennedy Street has changed

The guideline value for Kennedy Street has undergone several revisions over the years. The earliest recorded revision was in 2007, where the value was Rs 400 per sq.ft. This increased to Rs 700 per sq.ft in 2012, marking a rise of 75%. However, it then saw a decrease to Rs 469 per sq.ft in 2017, a drop of 33%. The value rose significantly to Rs 700 per sq.ft in 2023, followed by a further increase to Rs 770 per sq.ft in 2024, reflecting a change of 10% from the previous year.

There are no figures recorded for Kennedy Street in the 2002 and 2003 revisions. The overall change from the 2007 revision to the 2024 revision shows an increase of 93% in the guideline value.

Guideline values in Padiyanallur

In Padiyanallur, there are 132 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 385 to Rs 2,750 per sq.ft. The median value is Rs 770 per sq.ft, which is equal to the guideline value of Kennedy Street.

• Kattabomman Street: Rs 770 per sq.ft (2024)
• Ko.C. Mani Street: Rs 770 per sq.ft (2024)
• karikalvalavan Street (Bhavani Nagar): Rs 770 per sq.ft (2024)
• Karikalan Nagar: Rs 1,320 per sq.ft (2024)
• Kanniamman Koil Street (PANNEERVAKKAM): Rs 385 per sq.ft (2024)
• Kulathu Street (PANNEERVAKKAM): Rs 385 per sq.ft (2024)

Stamp duty and registration fee for property in Kennedy Street

For a 1,000 sq.ft plot at the current rate of Rs 770 per sq.ft, the guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, totaling Rs 69,300. 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 Kennedy Street?

The Sub Registrar Office that covers Kennedy Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor when registering property transactions in Padiyanallur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property.

When a property is sold, the guideline value is used to calculate the applicable taxes, ensuring that the transaction is recorded accurately in the official registers. This process helps maintain transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Kennedy Street?

The current guideline value of Kennedy Street is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value of Kennedy Street changed over the years?

The guideline value has seen various changes, with the most recent increase from Rs 700 per sq.ft in 2023 to Rs 770 per sq.ft in 2024, which is a 10% increase. The overall change from 2007 to 2024 is an increase of 93%.

What are the other streets in Padiyanallur and their guideline values?

Other streets in Padiyanallur include Kattabomman Street, Ko.C. Mani Street, and karikalvalavan Street (Bhavani Nagar), all valued at Rs 770 per sq.ft in 2024. Karikalan Nagar is valued at Rs 1,320 per sq.ft, while Kanniamman Koil Street and Kulathu Street (both in PANNEERVAKKAM) are valued at Rs 385 per sq.ft.

What is the stamp duty for property in Kennedy Street?

The stamp duty for property in Kennedy Street is 7% of the guideline value. For a plot valued at Rs 7,70,000, the stamp duty would be Rs 53,900.

Where is the Sub Registrar Office for Kennedy Street located?

The Sub Registrar Office for Kennedy Street is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.