Guideline Value for Canal Road

Canal Road guideline value

The current guideline value of Canal Road in Pallipattu village, under the Adayar SRO, is Rs 5,000 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Canal Road has changed

The guideline value for Canal Road has undergone several revisions over the years. In 2003, the value was Rs 1,001 per sq.ft, which increased significantly by 200% to Rs 3,000 per sq.ft in 2007. The value then rose by 50% to Rs 4,500 per sq.ft in 2012, before decreasing by 33% to Rs 3,015 per sq.ft in 2017. Following this, there was a substantial increase of 49%, bringing the value to Rs 4,500 per sq.ft in 2023. The most recent revision in 2024 has set the value at Rs 5,000 per sq.ft, reflecting an increase of 11% from the previous year.

The register has no figure for Canal Road in 2002. Overall, from 2003 to 2024, the guideline value has increased by 400%.

Guideline values in Pallipattu

Pallipattu village has 72 streets under the Adayar SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 15,400 per sq.ft. The median value for these streets is Rs 9,400 per sq.ft, indicating that Canal Road's 2024 figure is below this median.

• Canal Bank Road: Rs 9,400 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 Road

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value amounts to Rs 50,00,000. The stamp duty at 7% would be Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, making the total cost for these fees Rs 4,50,000. 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 precise calculations based on your property details.

Which Sub Registrar Office covers Canal Road?

The Canal Road area is covered by 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 plays a crucial role in the registration process when buying or selling property in Pallipattu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately and transparently.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Canal Road?

The current guideline value of Canal Road is Rs 5,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Canal Road has changed from Rs 1,001 per sq.ft in 2003 to Rs 5,000 per sq.ft in 2024, reflecting an overall increase of 400% over this period.

What is the median guideline value in Pallipattu?

The median guideline value for the 72 streets in Pallipattu is Rs 9,400 per sq.ft, with Canal Road's value being below this median.

What are the stamp duty and registration fees for a property on Canal Road?

For a property valued at Rs 50,00,000, the stamp duty would be Rs 3,50,000 and the registration fee would be Rs 1,00,000, totaling Rs 4,50,000 for these fees.

Which office handles registrations for Canal Road?

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