Guideline Value for Canal Bank Road North

Canal Bank Road North guideline value

The current guideline value of Canal Bank Road North 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 North has changed

Since the 2003 revision, the guideline value has seen significant changes. In 2003, the value was Rs 1,067 per sq.ft. The value increased to Rs 3,000 per sq.ft in 2007, marking a 181% rise. The 2012 revision saw a decrease to Rs 6,000 per sq.ft, a drop of 33%. However, it rose again to Rs 4,020 per sq.ft in 2017, and then to Rs 6,000 per sq.ft in 2023, before reaching the current value of Rs 6,600 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 519%. Notably, there is no figure available for the year 2002 in the register for this street.

Guideline values in Kottur

In Kottur, there are 114 streets under the Adayar SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 15,400 per sq.ft. The median value is Rs 6,100 per sq.ft, placing Canal Bank Road North's 2024 figure above this median.

• Canal Bank Road Lane: Rs 6,600 per sq.ft (2024)
• Canal Bank Road East: 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 North

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total charges to Rs 5,94,000. It is important to note that the 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 North?

The Canal Bank Road North falls under the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20, Chennai registration zone. 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 property transactions in Kottur. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value ensures that the transaction is recorded accurately for taxation purposes.

At the time of registration, both the buyer and seller must consider the guideline value to calculate applicable stamp duty and registration fees. This value helps maintain transparency in property transactions and ensures compliance with local regulations.

Frequently asked questions

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

The current guideline value of Canal Bank Road North 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 significantly from Rs 1,067 per sq.ft in 2003 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 519% over this period.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions is charged at 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2%.

Which office handles registrations for Canal Bank Road North?

The Adayar Sub Registrar Office is responsible for handling registrations for Canal Bank Road North, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

What is the median guideline value in Kottur?

The median guideline value in Kottur for 2024 is Rs 6,100 per sq.ft, with Canal Bank Road North's value being above this median at Rs 6,600 per sq.ft.