Guideline Value for CANAL BANK ROAD

Canal Bank Road guideline value

The current guideline value of Canal Bank Road is Rs 8,800 per sq.ft, effective from 1 July 2024. This road is located in Tnagar village and falls under the Thiyagaraya nagar SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Canal Bank Road has changed

The guideline value for Canal Bank Road has seen several revisions over the years. In 2002, the guideline value was Rs 1,761 per sq.ft, which increased to Rs 1,955 per sq.ft in 2003, reflecting a change of +11%. The value continued to rise, reaching Rs 3,000 per sq.ft in 2007, a significant increase of +53%. By 2012, the value was Rs 8,000 per sq.ft, showing a substantial rise of +167% from the previous revision.

In 2017, the guideline value was revised to Rs 5,360 per sq.ft, marking a decrease of -33% from 2012. The value then increased to Rs 8,000 per sq.ft in 2023, followed by a rise to the current figure of Rs 8,800 per sq.ft in 2024, which is a change of +10%. Overall, from 2002 to 2024, the guideline value has increased by +400%.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO, with 2024 guideline values ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median value for these streets is Rs 11,000 per sq.ft, placing Canal Bank Road's current value below this median.

• Cart Track Street: Rs 8,300 per sq.ft (2024)
• Burkit Road: Rs 17,600 per sq.ft (2024)
• Chari Street: Rs 9,900 per sq.ft (2024)
• Boag Road: Rs 17,600 per sq.ft (2024)
• B.N.REDDY ROAD 3rd STREET: Rs 9,400 per sq.ft (2024)
• B.N.REDDY ROAD 3rd LANE: Rs 5,500 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 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty, charged at 7%, would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000. Together, these fees total Rs 7,92,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more information, 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 Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process for property transactions in Tnagar. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can impact the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Canal Bank Road?

The current guideline value of Canal Bank Road 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 increased from Rs 1,761 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, marking a total increase of +400% over this period.

What is the stamp duty rate for properties on Canal Bank Road?

The stamp duty rate for properties in Canal Bank Road is 7% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Canal Bank Road is located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.

What is the median guideline value for streets in Tnagar?

The median guideline value for streets in Tnagar is Rs 11,000 per sq.ft, while Canal Bank Road's current value is below this median at Rs 8,800 per sq.ft.