Guideline Value for CANALPURAM

Canalpuram guideline value

The current guideline value of Canalpuram, located in Palavakkam village under the Neelankarai SRO, is Rs 2,800 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Canalpuram has changed

The guideline value for Canalpuram has seen several revisions over the years. In 2002, the value was Rs 84 per sq.ft, which increased to Rs 94 per sq.ft in 2003. The value then rose significantly to Rs 250 per sq.ft in 2007, followed by a remarkable increase to Rs 2,500 per sq.ft in 2012. However, it dropped to Rs 1,675 per sq.ft in 2017. The 2023 revision saw the value rise to Rs 2,500 per sq.ft, and the latest revision in 2024 has set the value at Rs 2,800 per sq.ft.

Between these revisions, notable changes include a 12% increase from 2023 to 2024, a 49% increase from 2017 to 2023, a 33% decrease from 2012 to 2017, a staggering 900% increase from 2007 to 2012, a 166% increase from 2003 to 2007, and a 12% increase from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by 3,233%.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Canalpuram's 2024 figure below that median.

• Canal Road: Rs 2,800 per sq.ft (2024)
• Burma Colony 5th Main Road: Rs 6,400 per sq.ft (2024)
• Burma Colony 4th Main Road: Rs 6,400 per sq.ft (2024)
• Burma Colony 3rd Main Road: Rs 6,400 per sq.ft (2024)
• Burma Colony 2nd Main Road: Rs 6,400 per sq.ft (2024)
• Burma Colony 2nd Cross Street: Rs 6,400 per sq.ft (2024)

Stamp duty and registration fee for property in Canalpuram

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total fees together to Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Canalpuram?

The Sub Registrar Office that covers Canalpuram is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Palavakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

During registration, buyers and sellers must consider the guideline value as it affects the stamp duty and registration fees payable. This ensures that the transaction reflects the official valuation set by the authorities.

Frequently asked questions

What is the current guideline value of Canalpuram?

The current guideline value of Canalpuram is Rs 2,800 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 84 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 3,233% over the years.

What are the stamp duty and registration fees for properties in Canalpuram?

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000, and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Which Sub Registrar Office covers Canalpuram?

The Neelankarai Sub Registrar Office covers Canalpuram, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the guideline value used in property transactions?

The guideline value is used as a minimum benchmark for property registration, impacting the stamp duty and registration fees payable during the transaction process.