Guideline Value for Canal Bank Road West

Canal Bank Road West guideline value

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

How the guideline value of Canal Bank Road West has changed

The guideline value for Canal Bank Road West has undergone several revisions over the years. Starting from Rs 1,067 per sq.ft in 2003, it increased significantly by 181% to Rs 3,000 per sq.ft in 2007. The value then saw a 100% rise to Rs 6,000 per sq.ft in 2012, followed by a decrease of 33% to Rs 4,020 per sq.ft in 2017. The 2023 revision marked a notable increase of 49% to Rs 6,000 per sq.ft, culminating in the current value of Rs 6,600 per sq.ft in 2024, which reflects a 10% increase from the previous year.

There is no guideline value figure available for Canal Bank Road West in the 2002 revision. Overall, from 2003 to 2024, the guideline value has increased by 519%.

Guideline values in Kottur

In Kottur, there are 114 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 15,400 per sq.ft, with a median value of Rs 6,100 per sq.ft. Canal Bank Road West's 2024 guideline value of Rs 6,600 per sq.ft is above this median.

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

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, resulting in a total of Rs 5,94,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Canal Bank Road West?

The Sub Registrar Office covering Canal Bank Road West 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 during property registration in Kottur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the applicable fees, which are based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Canal Bank Road West 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 1,067 per sq.ft in 2003 to Rs 6,600 per sq.ft in 2024, reflecting a significant increase of 519% over this period.

What is the median guideline value in Kottur?

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

What are the stamp duty rates for property in Canal Bank Road West?

The stamp duty for property in Canal Bank Road West is charged at 7% of the guideline value or the sale price, whichever is higher.

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

The Adayar Sub Registrar Office, which covers Canal Bank Road West, is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.