Guideline Value for SOLAI AMMAN 1ST CROSS STREET

Solai Amman 1st Cross Street guideline value

The current guideline value of Solai Amman 1st Cross Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village and falls under the Purasaivakkam Sub Registrar Office (SRO). The land classification for this area is Residential Class III Type - II.

How the guideline value of Solai Amman 1st Cross Street has changed

The guideline value for Solai Amman 1st Cross Street has undergone several revisions over the years. In 2007, the value was Rs 1,800 per sq.ft, which rose significantly to Rs 4,500 per sq.ft in 2012, marking a 150% increase. However, the value dropped to Rs 3,015 per sq.ft in 2017, reflecting a decrease of 33%. The most recent revision in 2023 set the value at Rs 4,500 per sq.ft, before the current figure of Rs 4,900 per sq.ft was established in 2024, indicating a 9% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 172%. It is important to note that the register has no figures for this street for the years 2002 and 2003.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value for these streets is Rs 5,500 per sq.ft, which means that the 2024 figure for Solai Amman 1st Cross Street is below this median.

• Solai Amman Koil Lane: Rs 4,900 per sq.ft (2024)
• Solai Amman Koil Street: Rs 4,900 per sq.ft (2024)
• Solaiappan Street: Rs 4,900 per sq.ft (2024)
• Sir Ramaswamy Mudali Street: Rs 7,100 per sq.ft (2024)
• Shiva Shanmugapuram All Blocks: Rs 3,800 per sq.ft (2024)
• Shiva Shanmugapuram 2nd Street (Marai Malai Nagar): Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Solai Amman 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total cost to Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Solai Amman 1st Cross Street?

The Sub Registrar Office that covers Solai Amman 1st Cross Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value is a critical factor when registering property transactions in Purasaivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value must be considered by both parties to ensure compliance with local regulations. It is essential for buyers to be aware of the guideline value to avoid any disputes during the registration process.

Frequently asked questions

What is the current guideline value of Solai Amman 1st Cross Street?

The current guideline value of Solai Amman 1st Cross Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, reflecting a total increase of 172% over these years.

What are the other streets in Purasaivakkam with the same guideline value?

Other streets in Purasaivakkam with the same guideline value of Rs 4,900 per sq.ft for 2024 include Solai Amman Koil Lane, Solai Amman Koil Street, and Solaiappan Street.

Where is the Purasaivakkam Sub Registrar Office located?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the stamp duty calculated for properties in Solai Amman 1st Cross Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would amount to Rs 3,43,000.