Guideline Value for Canal Karai Salai

Canal Karai Salai guideline value

The current guideline value of Canal Karai Salai is Rs 4,800 per sq.ft. This street is located in Vepery village under the Periamet SRO, classified as Residential Class II Type - II.

How the guideline value of Canal Karai Salai has changed

The guideline value for Canal Karai Salai has undergone several revisions over the years. The earliest recorded figure is from 2007, set at Rs 600 per sq.ft. This value saw a significant increase in 2012, rising to Rs 4,500 per sq.ft, but then dropped to Rs 3,015 per sq.ft in 2017. Following this, the value climbed to Rs 4,500 per sq.ft in 2023, before reaching its current rate of Rs 4,800 per sq.ft in 2024.

Notably, the changes between these revisions are substantial. From 2007 to 2012, there was a remarkable increase of 650%. However, the value decreased by 33% from 2012 to 2017. The guideline value then increased by 49% from 2017 to 2023, and finally, there was a 7% rise from 2023 to 2024. The overall increase from 2007 to 2024 is 700%. The register has no figure for the years 2002 and 2003 for this street.

Guideline values in Vepery

In Vepery village, there are 290 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 22,000 per sq.ft. The median value is Rs 4,800 per sq.ft, which is equal to the current guideline value of Canal Karai Salai.

• Brithapet Salai: Rs 11,500 per sq.ft (2024)
• Bogipalayam Old lane: Rs 2,700 per sq.ft (2024)
• Bogipalayam New 3rd lane: Rs 2,700 per sq.ft (2024)
• Bogipalayam New 2nd lane: Rs 2,700 per sq.ft (2024)
• Bogipalayam New 1st lane: Rs 2,700 per sq.ft (2024)
• Chengalvarayan Street: Rs 4,800 per sq.ft (2024)

Stamp duty and registration fee for property in Canal Karai Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 4,800 per sq.ft, the total guideline value would be Rs 48,00,000. The stamp duty at 7% would amount to Rs 3,36,000, and the registration fee at 2% would be Rs 96,000, resulting in a total of Rs 4,32,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Canal Karai Salai?

The Sub Registrar Office that covers Canal Karai Salai is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process of property transactions in Vepery. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the buying or selling of property.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the property's value at the time of the transaction.

Frequently asked questions

What is the current guideline value of Canal Karai Salai?

The current guideline value of Canal Karai Salai is Rs 4,800 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 600 per sq.ft in 2007 to Rs 4,800 per sq.ft in 2024, reflecting an overall increase of 700% over this period.

What are the stamp duty rates applicable in Canal Karai Salai?

The stamp duty rate applicable in Canal Karai Salai is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Canal Karai Salai located?

The Sub Registrar Office for Canal Karai Salai is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

What is the median guideline value in Vepery?

The median guideline value in Vepery is Rs 4,800 per sq.ft, which is the same as the current guideline value for Canal Karai Salai.