Guideline Value for Canal Bank Road

Canal Bank Road guideline value

The current guideline value of Canal Bank Road is Rs 9,400 per sq.ft, effective from 1 July 2024. This street is located in Pallipattu village under the Adayar SRO, classified as Residential Special Type - I.

How the guideline value of Canal Bank Road has changed

The guideline value for Canal Bank Road has undergone several revisions over the years. In 2003, the value was Rs 1,005 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2007, marking a change of +298%. The value then rose to Rs 8,500 per sq.ft in 2012, reflecting an increase of +113%. However, it decreased to Rs 5,695 per sq.ft in 2017, a decline of -33%. The 2023 revision saw the value rise again to Rs 8,500 per sq.ft, and the latest revision in 2024 has set the value at Rs 9,400 per sq.ft, an increase of +11% from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by +835%. It is important to note that the register has no figure for the year 2002 for this street.

Guideline values in Pallipattu

Pallipattu village has 72 streets under the Adayar SRO, with 2024 guideline values ranging from Rs 3,300 to Rs 15,400 per sq.ft. The median value is Rs 9,400 per sq.ft, which is equal to the current guideline value of Canal Bank Road.

• Canal Road: Rs 5,000 per sq.ft (2024)
• Bharathi Nagar: Rs 3,300 per sq.ft (2024)
• Dhanalakshmi Avenue 1st Street: Rs 6,600 per sq.ft (2024)
• Dhanalakshmi Avenue 2nd Street: Rs 6,600 per sq.ft (2024)
• Dhanalakshmi Avenue 3rd Street: Rs 6,600 per sq.ft (2024)
• Balaraman Road: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Canal Bank Road

For a 1,000 sq.ft plot at the current guideline value of Rs 9,400 per sq.ft, the total guideline value amounts to Rs 94,00,000. The stamp duty at 7% would be Rs 6,58,000, and the registration fee at 2% would be Rs 1,88,000, totaling Rs 8,46,000. 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?

The Sub Registrar Office that covers Canal Bank Road 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 Pallipattu

The guideline value is a crucial factor in the registration process when buying or selling property in Pallipattu. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property transaction.

When a property is sold, the buyer and seller must ensure that the sale price is in line with the guideline value. This ensures that the correct amount of stamp duty is paid, which is calculated based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Canal Bank Road?

The current guideline value of Canal Bank Road is Rs 9,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,005 per sq.ft in 2003 to Rs 9,400 per sq.ft in 2024, marking an overall increase of +835% over the years.

What are the stamp duty and registration fees for Canal Bank Road?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty is Rs 6,58,000, and the registration fee is Rs 1,88,000, totaling Rs 8,46,000.

Which office handles registrations for Canal Bank Road?

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

Where can I find more information on property registration?

You can find more information on property registration and the relevant Sub Registrar Office by visiting the official site and using the find your SRO feature.