Guideline Value for CANAL BANK ROAD (ABIRAMAPURAM)

Canal Bank Road (Abiramapuram) guideline value

The current guideline value of Canal Bank Road (Abiramapuram) is Rs 8,800 per sq.ft. This street is located in Mylapore village and falls under the Mylapore SRO. The land classification for this area is Residential Class III Type - III.

How the guideline value of Canal Bank Road (Abiramapuram) has changed

The guideline value for Canal Bank Road (Abiramapuram) has seen several revisions over the years. The earliest recorded figure is from the 2012 revision, which was Rs 8,000 per sq.ft. This was followed by a decrease to Rs 5,360 per sq.ft in the 2017 revision. The 2023 revision marked an increase to Rs 8,000 per sq.ft, and the current 2024 revision has further increased it to Rs 8,800 per sq.ft, reflecting a 10% rise from the previous year.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value surged by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO, with guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, which is equal to the current value for Canal Bank Road (Abiramapuram).

• CANAL BANK ROAD(PMD Salai to RA Puram 3rd cross street): Rs 8,800 per sq.ft (2024)
• CANAL BANK ROAD(RA Puram): Rs 8,800 per sq.ft (2024)
• Canal Bank Road (Sringeri Mutt Road): Rs 8,800 per sq.ft (2024)
• Canal Bank Road(St. Mary's Road To Ra Puram III Cross Street): Rs 8,800 per sq.ft (2024)
• Byepass Road (Lighthouse To Foreshore Estate): Rs 6,000 per sq.ft (2024)
• Bucks Road: Rs 15,900 per sq.ft (2024)

Stamp duty and registration fee for property in Canal Bank Road (Abiramapuram)

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, totaling Rs 7,92,000. It is important to note that the 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 Canal Bank Road (Abiramapuram)?

The Sub Registrar Office that covers Canal Bank Road (Abiramapuram) is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees applicable during the registration process. Buyers and sellers must consider this value to ensure compliance with legal requirements.

During property transactions, the guideline value helps establish a fair basis for the transaction amount, ensuring that the appropriate taxes are levied. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Canal Bank Road (Abiramapuram)?

The current guideline value of Canal Bank Road (Abiramapuram) is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 8,000 in 2012 to Rs 5,360 in 2017, then back to Rs 8,000 in 2023, and finally to Rs 8,800 in 2024. This reflects significant fluctuations over the years.

What is the land classification for Canal Bank Road (Abiramapuram)?

The land classification for Canal Bank Road (Abiramapuram) is Residential Class III Type - III, indicating its intended use for residential purposes.

Where can I find the Sub Registrar Office for Canal Bank Road (Abiramapuram)?

The Sub Registrar Office for Canal Bank Road (Abiramapuram) is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

How is the stamp duty calculated for properties in Mylapore?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 88,00,000 would incur a stamp duty of Rs 6,16,000 at 7%.