Guideline Value for CANAL ROAD (CANAL SALAI)

Canal Road (Canal Salai) guideline value

The current guideline value of Canal Road (Canal Salai) in Thiruvanmiyur village is Rs 7,150 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - I.

How the guideline value of Canal Road (Canal Salai) has changed

The guideline value for Canal Road (Canal Salai) 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, reflecting a 34% increase. Following this, there was a substantial jump to Rs 6,500 per sq.ft in 2012, which represented a 117% increase. However, the value decreased to Rs 4,355 per sq.ft in 2017, showing a decline of 33%. The value then increased again to Rs 6,500 per sq.ft in 2023, and most recently, it has risen to Rs 7,150 per sq.ft in 2024, a change of 10%.

Overall, the guideline value has increased by 254% from 2002 to 2024. The revisions for the years 2012, 2017, and 2023 show significant fluctuations, but no figures are available for the years not mentioned in the register.

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 is Rs 9,900 per sq.ft, which means Canal Road (Canal Salai) is below this median.

• Canal Bank Road: 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 Road (Canal Salai)

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, and the registration fee at 2% would be Rs 1,43,000, totaling Rs 6,43,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Canal Road (Canal Salai)?

The Sub Registrar Office that covers Canal Road (Canal Salai) 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 details.

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

The guideline value is a crucial factor during the registration of property transactions in Thiruvanmiyur. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When buying or selling property, it is essential to be aware of the guideline value as it influences the total cost involved in the transaction. Buyers should consider this value to understand the financial implications of their property purchase.

Frequently asked questions

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

The current guideline value of Canal Road (Canal Salai) 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, showing an overall increase of 254% over the years.

What is the median guideline value in Thiruvanmiyur?

The median guideline value in Thiruvanmiyur is Rs 9,900 per sq.ft, with Canal Road (Canal Salai) being below this median at Rs 7,150 per sq.ft.

What are the stamp duty and registration fees for properties on Canal Road (Canal Salai)?

The stamp duty for properties on Canal Road (Canal Salai) is 7%, and the registration fee is 2%. For a 1,000 sq.ft plot, the total cost would be Rs 6,43,500.

Where is the Sub Registrar Office for Canal Road (Canal Salai) located?

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