Guideline Value for Kaveri Lane Salomon Street

Kaveri Lane Salomon Street guideline value

The current guideline value of Kaveri Lane Salomon Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Kaveri Lane Salomon Street has changed

Over the years, the guideline value for Kaveri Lane Salomon Street has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 1,340 per sq.ft. The value remained at Rs 2,000 per sq.ft until the 2023 revision, which increased it to Rs 2,000 per sq.ft. The most recent revision in 2024 raised the guideline value to Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

In summary, the guideline value has changed from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 10% from the 2012 figure. The register has no figure for the years 2002, 2003, and 2007 for this street.

Guideline values in Selaiyur

Selaiyur village has a total of 478 streets under the Selaiyur SRO, with the 2024 guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median value is Rs 2,200 per sq.ft, which is the same as the current guideline value for Kaveri Lane Salomon Street.

• Kasiappar Street: Rs 2,750 per sq.ft (2024)
• Karpaga Vinayakar Koil Street: Rs 1,600 per sq.ft (2024)
• Karpagam Nagar 3rd Street: Rs 4,750 per sq.ft (2024)
• Karpagam Nagar 2nd Street: Rs 4,750 per sq.ft (2024)
• Karpagam Nagar 1st Street: Rs 4,750 per sq.ft (2024)
• Karpagam Nagar: Rs 4,750 per sq.ft (2024)

Stamp duty and registration fee for property in Kaveri Lane Salomon Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000. Together, the total cost would be Rs 1,98,000. 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 Kaveri Lane Salomon Street?

The Sub Registrar Office that covers Kaveri Lane Salomon Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Selaiyur

The guideline value is a crucial factor in the registration process when buying or selling property in Selaiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is used to calculate the stamp duty, which is charged at a percentage of 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 Kaveri Lane Salomon Street?

The current guideline value of Kaveri Lane Salomon Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, with several revisions in between, including Rs 2,000 per sq.ft in 2012 and 2023.

What is the land classification of Kaveri Lane Salomon Street?

Kaveri Lane Salomon Street is classified as Residential Class I Type - I, indicating its primary use for residential purposes.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Selaiyur?

Stamp duty for properties in Selaiyur is calculated based on the guideline value or the sale price, whichever is higher. The current rate is 7% for stamp duty and 2% for the registration fee.