Guideline Value for CANAL BANK ROAD C.I.T.NAGAR

Canal Bank Road C.I.T.Nagar guideline value

The current guideline value for Canal Bank Road C.I.T.Nagar is Rs 12,100 per sq.ft, effective from 1 July 2024. This street is located in Mambalam village and falls under the Thiyagaraya nagar SRO. The land classification for this area is Mixed Special Type - II.

How the guideline value of Canal Bank Road C.I.T.Nagar has changed

The guideline value for Canal Bank Road C.I.T.Nagar has seen significant changes over the years. Starting from Rs 1,109 per sq.ft in 2003, the value increased to Rs 2,000 per sq.ft in 2007, marking an 80% rise. The value then surged to Rs 11,000 per sq.ft in 2012, reflecting a remarkable 450% increase. However, it decreased to Rs 7,370 per sq.ft in 2017, a decline of 33%. The value rebounded to Rs 11,000 per sq.ft in 2023, before reaching the current rate of Rs 12,100 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, the guideline value has increased by 991% from 2003 to 2024. The register has no figure for the year 2002 for this street.

Guideline values in Mambalam

Mambalam village has 163 streets under the Thiyagaraya nagar SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 6,600 per sq.ft, and Canal Bank Road C.I.T.Nagar's 2024 figure is above this median.

• Cartman Road: Rs 5,500 per sq.ft (2024)
• Chinniah 2nd Street: Rs 8,800 per sq.ft (2024)
• Chinniah Ist Street Northern Side Of East Jones Road: Rs 8,800 per sq.ft (2024)
• C.I.T.Nagan Second Cross Street: Rs 6,600 per sq.ft (2024)
• C.I.T.Nagar Extension Fourth Main Road T.S.No.5 Only: Rs 12,100 per sq.ft (2024)
• C.I.T.Nagar Ext. Third Main Road Ist Street: Rs 12,100 per sq.ft (2024)

Stamp duty and registration fee for property in Canal Bank Road C.I.T.Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 12,100 per sq.ft, the total guideline value amounts to Rs 1,21,00,000. The stamp duty at 7% would be Rs 8,47,000, and the registration fee at 2% would be Rs 2,42,000, making the total Rs 10,89,000. 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 Canal Bank Road C.I.T.Nagar?

The Sub Registrar Office that covers Canal Bank Road C.I.T.Nagar is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mambalam. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property.

When a property is sold, the guideline value helps determine the minimum sale price for registration purposes. Buyers and sellers must be aware of this value to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of Canal Bank Road C.I.T.Nagar?

The current guideline value of Canal Bank Road C.I.T.Nagar is Rs 12,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,109 per sq.ft in 2003 to Rs 12,100 per sq.ft in 2024, reflecting an overall increase of 991% over the years.

What is the land classification for Canal Bank Road C.I.T.Nagar?

The land classification for Canal Bank Road C.I.T.Nagar is Mixed Special Type - II.

What are the stamp duty and registration fees for property in Canal Bank Road C.I.T.Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 1,21,00,000, the total fees would amount to Rs 10,89,000.

Which Sub Registrar Office covers Canal Bank Road C.I.T.Nagar?

The Thiyagaraya nagar Sub Registrar Office covers Canal Bank Road C.I.T.Nagar, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.