Guideline Value for Kennet Lane

Kennet Lane guideline value

The current guideline value of Kennet Lane is Rs 18,100 per sq.ft. This street is located in Egmore village, under the Periamet SRO, and is classified as Commercial Special Type - II.

How the guideline value of Kennet Lane has changed

The guideline value for Kennet Lane has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 2,319 per sq.ft. It increased to Rs 2,557 per sq.ft in 2003, followed by a significant rise to Rs 5,000 per sq.ft in 2007. The value saw a remarkable jump to Rs 16,500 per sq.ft in 2012, but then decreased to Rs 11,055 per sq.ft in 2017. In 2023, the value was Rs 16,500 per sq.ft, before reaching the current rate of Rs 18,100 per sq.ft effective from 1 July 2024.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2023 to 2024 represents a 10% rise. Notably, the overall increase from the 2002 revision to the 2024 revision is 681%. There are no figures available for the revisions in years other than those specified.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value is Rs 7,100 per sq.ft, placing Kennet Lane's 2024 figure above this median.

• Kilpauk Garden 1st Cross Street: Rs 13,400 per sq.ft (2024)
• Kilpauk Garden 2nd Cross Street: Rs 13,400 per sq.ft (2024)
• Kilpauk Garden 2nd lane: Rs 13,400 per sq.ft (2024)
• Kilpauk Garden 2nd linkStreet: Rs 13,400 per sq.ft (2024)
• Kilpauk Garden 2nd street: Rs 13,400 per sq.ft (2024)
• Kilpauk Garden 3rd link cross street: Rs 13,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kennet Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 18,100 per sq.ft, the total guideline value would be Rs 1,81,00,000. The stamp duty at 7% would be Rs 12,67,000, and the registration fee at 2% would be Rs 3,62,000, bringing the total to Rs 16,29,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kennet Lane?

The Sub Registrar Office that covers Kennet Lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. For more details, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Egmore. It serves as a benchmark for determining the minimum value of a property for registration purposes. When buying or selling property, the guideline value ensures that the transaction is recorded accurately in the official registry.

Additionally, the guideline value influences the stamp duty and registration fees that need to be paid during the property transaction. This helps maintain transparency and accountability in real estate transactions within the region.

Frequently asked questions

What is the current guideline value of Kennet Lane?

The current guideline value of Kennet Lane is Rs 18,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 2,319 per sq.ft in 2002 to the current rate of Rs 18,100 per sq.ft in 2024, marking an overall increase of 681%.

What is the land classification of Kennet Lane?

Kennet Lane is classified as Commercial Special Type - II, indicating its suitability for commercial activities.

Where can I find the Sub Registrar Office for Kennet Lane?

The Sub Registrar Office for Kennet Lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is the stamp duty calculated for properties in Kennet Lane?

Stamp duty for properties in Kennet Lane is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 1,81,00,000 would incur a stamp duty of Rs 12,67,000 at a rate of 7%.