Guideline Value for WATER CANAL ROAD

Water Canal Road guideline value

The current guideline value of Water Canal Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Korattur village and falls under the Villivakkam SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Water Canal Road has changed

Looking at the revisions, the guideline value for Water Canal Road was Rs 3,000 per sq.ft in the 2012 revision. This figure remained unchanged until the 2023 revision, where it again stood at Rs 3,000 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2017 in the register for this street.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO, with guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft as of 2024. The median guideline value in this area is Rs 2,500 per sq.ft, making the guideline value of Water Canal Road above this median.

• V.P.C.NAGAR 2nd STREET: Rs 1,600 per sq.ft (2024)
• V.P.C.NAGAR 1st STREET: Rs 1,600 per sq.ft (2024)
• Yasotha Nagar: Rs 2,500 per sq.ft (2024)
• Yasotha Nagar Extension: Rs 2,100 per sq.ft (2024)
• Yes Esi Lake Front: Rs 2,700 per sq.ft (2024)
• V.M.T.Nagar: Rs 2,900 per sq.ft (2024)

Stamp duty and registration fee for property in Water Canal Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, these fees would total Rs 2,97,000. 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 Water Canal Road?

The Sub Registrar Office that covers Water Canal Road is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Korattur. It determines the minimum value at which a property can be registered and is used to calculate the applicable stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the current guideline value, as it can affect the overall transaction costs. Buyers should ensure that the sale price is in line with the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Water Canal Road?

The current guideline value of Water Canal Road is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 3,000 per sq.ft in 2012 to Rs 3,300 per sq.ft in 2024, marking a 10% increase over this period.

What is the median guideline value in Korattur?

The median guideline value in Korattur is Rs 2,500 per sq.ft, which indicates that the guideline value of Water Canal Road is above this median.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 33,00,000. The stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles registrations for Water Canal Road?

The Villivakkam Sub Registrar Office handles registrations for Water Canal Road, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.