Guideline Value

Corporate

Guideline Value for Canara Bank Colony

₹4400/sq.ft.

The guideline value for Canara Bank Colony in Saligramam village (Virugambakkam SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. It was Rs 4000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Saligramam

Village

Virugambakkam

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹4400 /sq.ft.
From 1-4-2023 ₹4000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2680 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹4000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹3144 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹450 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹412 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037
044-23641794
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Canara Bank Colony

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Canara Bank Colony guideline value

The current guideline value of Canara Bank Colony is Rs 4,400 per sq.ft, effective from 1 July 2024. This locality is situated in Saligramam village, under the Virugambakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Canara Bank Colony has changed

The guideline value of Canara Bank Colony has seen several revisions over the years. In 2002, the value was Rs 412 per sq.ft, which increased significantly to Rs 450 per sq.ft in 2003. Following this, the value rose dramatically to Rs 3,144 per sq.ft in 2007, marking a 599% increase. The 2012 revision saw a decrease to Rs 4,000 per sq.ft, which was then followed by a drop to Rs 2,680 per sq.ft in 2017, representing a 33% decline. However, the value rebounded to Rs 4,000 per sq.ft in 2023, and currently stands at Rs 4,400 per sq.ft as of the 2024 revision, reflecting a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 968%. Notably, there are no figures available for the revisions between 2012 and 2017 for this street.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, which is equal to the 2024 figure for Canara Bank Colony.

Stamp duty and registration fee for property in Canara Bank Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, making the total fees Rs 3,96,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Canara Bank Colony?

The Sub Registrar Office that covers Canara Bank Colony is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Saligramam. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate the applicable stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official registry.

When a property is sold, the guideline value helps in assessing the legal and financial aspects of the transaction. It ensures that both parties are aware of the official valuation, which is essential for compliance with local regulations and for the protection of buyer and seller interests.

Frequently asked questions

What is the current guideline value of Canara Bank Colony?

The current guideline value of Canara Bank Colony is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 412 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 968% over this period.

What is the land classification for Canara Bank Colony?

Canara Bank Colony is classified as Residential Class II Type - I, which indicates its suitability for residential purposes.

Where is the Virugambakkam Sub Registrar Office located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated in Canara Bank Colony?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a stamp duty of Rs 3,08,000.