Guideline Value for CANAL BANK ROAD

Canal Bank Road guideline value

The current guideline value of Canal Bank Road is Rs 7,150 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Canal Bank Road has changed

The guideline value of Canal Bank Road has seen several revisions over the years. In 2002, the value was Rs 2,022 per sq.ft, which increased to Rs 2,237 per sq.ft in 2003, marking an increase of 11%. The value then rose significantly to Rs 3,000 per sq.ft in 2007, a change of 34%. Following this, there was a substantial jump to Rs 6,500 per sq.ft in 2012, reflecting an increase of 117%. However, from 2012 to 2017, the value decreased to Rs 4,355 per sq.ft, a drop of 33%. The guideline value then increased again to Rs 6,500 per sq.ft in 2023, followed by the latest revision to Rs 7,150 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 254%. There are no figures available for the revisions in years other than those mentioned above.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median value for these streets is Rs 9,900 per sq.ft, indicating that Canal Bank Road's 2024 figure is below this median.

• Canal Road (Canal Salai): Rs 7,150 per sq.ft (2024)
• Central Govt Employee Housing Colony: Rs 9,900 per sq.ft (2024)
• Chellaperumal Street: Rs 7,150 per sq.ft (2024)
• Bhinaci Street: Rs 7,150 per sq.ft (2024)
• Chitrakulath Street: Rs 7,150 per sq.ft (2024)
• Bharathi Street (Lakshmipuram 4th Street): Rs 7,150 per sq.ft (2024)

Stamp duty and registration fee for property in Canal Bank Road

For a 1,000 sq.ft plot at the current guideline value of Rs 7,150 per sq.ft, the total guideline value would be Rs 71,50,000. The stamp duty at 7% would amount to Rs 5,00,500, while the registration fee at 2% would be Rs 1,43,000. Thus, the total cost for stamp duty and registration would be Rs 6,43,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Canal Bank Road?

The Sub Registrar Office that covers Canal Bank Road is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Thiruvanmiyur. It is the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees. Buyers and sellers must consider this value when negotiating property prices.

During the registration process, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that all property transactions are conducted transparently and that the government can maintain accurate records of property ownership.

Frequently asked questions

What is the current guideline value of Canal Bank Road?

The current guideline value of Canal Bank Road is Rs 7,150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,022 per sq.ft in 2002 to Rs 7,150 per sq.ft in 2024, reflecting an overall increase of 254% over the years.

What is the land classification of Canal Bank Road?

The land classification for Canal Bank Road is Residential Class IV Type - I.

What are the stamp duty and registration fees for Canal Bank Road?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 6,43,500.

Where is the Sub Registrar Office for Canal Bank Road located?

The Sub Registrar Office for Canal Bank Road is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.