Guideline Value for Canal Bank Road Lane

Canal Bank Road Lane guideline value

The current guideline value of Canal Bank Road Lane is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Kottur village, under the Adayar SRO, and is classified as Residential Class II Type - I.

How the guideline value of Canal Bank Road Lane has changed

The guideline value for Canal Bank Road Lane has seen several revisions over the years. The 2012 revision set the value at Rs 6,000 per sq.ft, which decreased to Rs 4,020 per sq.ft in the 2017 revision. However, the value rebounded significantly to Rs 6,000 per sq.ft in 2023, and then increased by 10% to the current value of Rs 6,600 per sq.ft in 2024.

From the 2017 revision to the 2023 revision, there was a substantial increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kottur

Kottur has a total of 114 streets under the Adayar SRO, with guideline values ranging from Rs 3,300 to Rs 15,400 per sq.ft. The median guideline value in this area is Rs 6,100 per sq.ft, making the current value of Canal Bank Road Lane above this median.

• Canal Bank Road East: Rs 6,600 per sq.ft (2024)
• Canal Bank Road North: Rs 6,600 per sq.ft (2024)
• Canal Bank Road South: Rs 6,600 per sq.ft (2024)
• Canal Bank Main Road: Rs 6,600 per sq.ft (2024)
• Canal Bank Road West: Rs 6,600 per sq.ft (2024)
• Circular Road: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Canal Bank Road Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, making the total charges Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Canal Bank Road Lane?

The Sub Registrar Office that covers Canal Bank Road Lane is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

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

When buying or selling a property, the guideline value will influence the overall costs involved in the transaction. Buyers should be aware that the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Canal Bank Road Lane?

The current guideline value of Canal Bank Road Lane is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 6,000 per sq.ft in 2012 to Rs 4,020 per sq.ft in 2017, then back to Rs 6,000 per sq.ft in 2023, and currently stands at Rs 6,600 per sq.ft in 2024.

What is the land classification for Canal Bank Road Lane?

Canal Bank Road Lane is classified as Residential Class II Type - I.

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

For a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000 and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Where is the Adayar Sub Registrar Office located?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.