Guideline Value for Dr.Solman Colony

Dr.Solman Colony guideline value

The current guideline value of Dr.Solman Colony is Rs 2,420 per sq.ft, effective from 1 July 2024. This area is located in Thiruneermalai village, under the Pammal SRO, and is classified as Residential Class I Type - I.

How the guideline value of Dr.Solman Colony has changed

The guideline value for Dr.Solman Colony has seen significant changes over the years. The earliest recorded figure is from 2003, which was Rs 312 per sq.ft. This value increased to Rs 810 per sq.ft in 2007, marking a change of 160%. By 2017, the guideline value rose to Rs 1,474 per sq.ft, reflecting an increase of 82%. The 2023 revision set the value at Rs 2,200 per sq.ft, which is a 49% increase from the previous revision.

As of the 2024 revision, the current guideline value stands at Rs 2,420 per sq.ft, which is a 10% increase from the 2023 figure. Overall, from 2003 to 2024, the guideline value has increased by 676%. The register has no figures for the years 2002 and 2012 for this street.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median value for these streets is Rs 2,420 per sq.ft, which is equal to the current value of Dr.Solman Colony.

• Dr.Soundarammal Street: Rs 2,420 per sq.ft (2024)
• Duraiamman Koil Street: Rs 2,200 per sq.ft (2024)
• Durgai Amman Street: Rs 2,200 per sq.ft (2024)
• Durga Nagar: Rs 2,420 per sq.ft (2024)
• Durga Nagar Agathiyar Street: Rs 2,420 per sq.ft (2024)
• Durga Nagar Ambedkar Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Dr.Solman Colony

For a 1,000 sq.ft plot at the current rate of Rs 2,420 per sq.ft, the guideline value would be Rs 24,20,000. The stamp duty at 7% would amount to Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, totaling Rs 2,17,800. It is important to note that 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 more details.

Which Sub Registrar Office covers Dr.Solman Colony?

The Sub Registrar Office that covers Dr.Solman Colony is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thiruneermalai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the relevant authorities use the guideline value to assess the transaction's worth. This ensures that the appropriate taxes are collected based on the established rates, which are periodically revised to reflect market conditions.

Frequently asked questions

What is the current guideline value of Dr.Solman Colony?

The current guideline value of Dr.Solman Colony is Rs 2,420 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has increased significantly, from Rs 312 per sq.ft in 2003 to Rs 2,420 per sq.ft in 2024, marking an overall increase of 676%.

What is the land classification for Dr.Solman Colony?

Dr.Solman Colony is classified as Residential Class I Type - I according to the guideline value register.

Where can I find the Sub Registrar Office for Dr.Solman Colony?

The Sub Registrar Office for Dr.Solman Colony is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is stamp duty calculated for property in Dr.Solman Colony?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 24,20,000, the stamp duty at 7% would be Rs 1,69,400.